Monday, April 2, 2012

Visa Drops Global Payments After Massive Security Breach

Posted By on Mon, Apr 2, 2012 at 8:57 AM

The fallout from a massive data breach has begun. In the wake of the discovery last week that as many as 1.5 million credit and debit cards from major banks may have been compromised, Visa announced this morning that it had dropped Global Payments as its card processor.

A Global Payments spokesman said late Sunday that indeed credit card data may have been stolen but names, addresses and Social Security numbers were not obtained. Visa and MasterCard said on Friday that they had begun notifying their card holders of the potential for identity theft and illicit charges because of the breach.

Global Payments executives said this morning that an internal investigation was ongoing. Until that is complete, they're holding off on going into specifics about how the hack happened.

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