Visa Cuts CardSystems After ID Thefts
I think most of you have heard about CardSystems getting hacked where 40 million consumer accounts were open to ID theft and potential fraud. Now Visa and American Express are taking action by cutting ties with CardSystems. I would think this is a death blow to CardSystems as their 110,000 merchant customers will not be able to accept American Express and Visa credit and debit cards once ties are cut. This action by Visa and American Express are sure to motivate businesses and banks to tighten down on their ID theft protection measures. See eCommerce Times posting, Credit Titans Cut Ties to CardSystems for more details.
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