updated 03:20 pm EDT, Fri March 30, 2012
Global Payments breached for MasterCard, Visa
Third-party payment card processor Global Payments has had its security compromised, putting nearly 50,000 MasterCard and Visa holders at risk, sources told the Wall Street Journal. The two major credit cards have been alerting their customers and banks that issue their cards regarding this breach, though MasterCard said its own systems remain secure. It has also hired an unnamed independent data security organization to look into the hack.
Visa, meanwhile, said it is aware of a potential security issue that affects all major card brands. The system itself didn't suffer a breach, Visa claimed. It has given banks the affected account numbers so they can take steps to protect customers and search for the hacker.
The breach dates back to late January, and details on exactly what kind of information was breached aren't yet known. The targeted cards are said to be mainly ones issued to businesses rather than individuals, which may also carry higher credit limits.
Such a hack is one of he larger examples in recent memory and underscores the ongoing security problems with credit cards.