Following a massive security breach, Visa has dropped Global Payments from its registry of providers that meet data security standards, The Associated Press reported on Monday. Global Payments CEO Paul Garcia said that the company will continue to process Visa transactions, however being dropped from the registry “could give our partners some pause that they’re doing business with someone who experienced a breach.” Garcia fully expects his company to be reinstated once it has been issued a new report of compliance, although he declined to specify when that might happen. The CEO maintains that the situation is “absolutely contained” and is being fully investigated. Global Payments confirmed on Sunday that hackers stole credit card numbers belonging to as many as 1.5 million MasterCard and Visa customers, however cardholder names, addresses and Social Security numbers were not compromised. The company plans to set up a website to assist consumers who might have been affected by the breach. More →
Hackers stole credit card numbers belonging to as many as 1.5 million MasterCard and Visa customers, Global Payments, Inc. confirmed on Sunday. The international credit card processor was blocked by Visa after it reported the possibility of a major security breach on Friday. The company did not indicate how the hackers gained access to its system or who might be responsible for the attack. “Based on the forensic analysis to date, network monitoring and additional security measures, the company believes that this incident is contained,” the firm told The Wall Street Journal while noting that cardholder names, addresses and Social Security numbers were not compromised. The company did say that the credit card numbers were downloaded during the attack rather than just being accessed, however, indicating that the perpetrators may intend to use the information to create counterfeit credit cards. Affected Visa and MasterCard customers have not yet been notified that their account information was stolen.