Credit card firms concerned with the security breaches to affect the Information provided by customers
Some of the most trusted credit card providing firms has lately been exposed to some security breaches. These firms confirmed & assured that the breach of the security did not occurred from its own systems or servers. They held some third party issues to be associated or responsible for the breach. These issues are being faced by the three of the most trusted & popular credit firms such as Visa, MasterCard & Discover. The firms have warned that such security breaches can lead to the Personal Details of the credit card holder’s being leaked out. Certain reports certifies of some of the stolen Information to have been found in New York.
A security blog named as KrebsOnSecurity, reported the industry sources claiming that over the period more than 10 million credit cards have been exposed. As a matter of fact, this blog was the first to report about these security breaches. There were reports from the Wall Street Journal which quoted the industry officials saying that, the credit card processing firm named Global Payments suffered the breach primarily. Also the company shares went down by more than a major 9 % last Friday. However there has been no response from the houses of Global Payments when asked for a comment.
The three companies Visa, MasterCard & Discover have not yet confirmed the extent of the breach & the number of customers affected due to it. This has been a major setback as these were the 3 largest credit card processing companies not only in the continental US but also throughout the world. The Visa & MasterCard also provides debit cards to a large number bank in the US. The authorities confirmed that they have informed the bank regarding the breach. On the other hand Discover Financial Services ensured that they were monitoring all the accounts & if necessary would provide the customers with new cards.
The authorities of MasterCard was found saying that “they were always concerned with the convenient usage by the user at every point of time & keep up their steady efforts in monitoring & safe guarding the account Information provided by the user.” Visa also backed the MasterCard’s point & said that they will not hold the customers responsible for any fraudulent purchases done issuing their card. Analyst Avivah Litan said she have found evidences of fraud or security breaches related to credit card being associated with a taxi garage in NYC.
Latest Credit Card Issuers News
The two large regional banks, BB&T and SunTrust, are currently in a process of merging to create the sixth largest banking holding company in the United States. The new issuer, headquartered in Uptown Charlotte, North Carolina, was named Truist. According to the banks’ announcements, the merger is to bring more branches, ATMs and digital innovations […]
A couple of days ago, Norwegian Air, Norway’s largest airline and the ninth-largest low-cost airline in the world, announced a rollout of their new no annual fee credit card in the United States. The airline currently operates direct flights from New York, Los Angeles, San Francisco, Florida, and Boston to Europe and the United Kingdom. […]
Last week, American Express presented an updated Corporate Program with enhanced benefits for the American Express Corporate Green, Gold, and Platinum credit cards. Over the next few months, the issuer will add to the program new or renewed tools and solutions that are implied to be of benefit to both businesses and their employees. These […]
Not so long ago, Citi launched a new feature aimed at current Citi credit cardholders – Citi® Flex Loan. The whole point is that, if you own a Citi credit card, now you may be offered to borrow money from this account’s credit limit and pay it back at a fixed APR, in fixed monthly payments over a set period.
The digital environment is becoming increasingly common these days. This also applies to the credit sector. Most likely, you use credit card apps or at least visit your issuer’s website from time to time. Indeed, online accessibility is highly important for customers. Considering this fact, issuers seek not only to provide high-quality service but also to design a user-friendly mobile app and site interface that will help cardholders quickly find the necessary information or solve an issue.