Visa, American Express to Cut Ties with Card Processor at Center of Massive Security Breach

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00019600-visa-american-express-to-cut-ties-with-ca/

By Brian Bergstein, AP

Visa USA Inc. and American Express Co. are cutting ties with the payment-processing company that left 40 million credit and debit card accounts vulnerable to hackers in one of the biggest breaches of consumer data security.

CardSystems Solutions Inc. “has not corrected, and cannot at this point correct, the failure to provide proper data security for Visa accounts,” said Rosetta Jones, a spokeswoman for Foster City, Calif.-based Visa.

She said banks that issue Visa cards would have until Oct. 31 to replace CardSystems with one of the hundreds of other payment-processing companies in the United States.

For this complete story, please visit Visa, American Express to Cut Ties with Card Processor at Center of Massive Security Breach.

Visa, American Express to Cut Ties with Card Processor at Center of Massive Security Breach

Unknown Author

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