Visa's plan - due to be launched later this summer - is designed to protect online shoppers and penalise merchants for lapses in security. We have an international programme in the pipeline which will mean all acquirers [merchants' banks] of Visa...
MasterCard says a rise in credit card transactions via the internet is prompting card firms to push tougher data security standards for merchants. The initiative largely mirrors a project being undertaken by rival card heavyweight Visa...
An intruder was able to use security vulnerabilities to infiltrate the CardSystems network and access the cardholder data, MasterCard said. CardSystems is one of several companies that process transactions for banks and merchants.
If a criminal makes an unauthorised purchase on an individual's card, the cardholder is typically protected. A class action lawsuit filed after millions of credit card accounts were compromised by a data breach at payment processor CardSystems...
That includes merchants, payment processors, point-of-sale vendors, financial institutions and more than a billion card holders worldwide. A statement released by the newly formed council said the revisions were the result of feedback from vendors...
Andrew Moloney, security expert at RSA Security, said: "All the focus has been on the 'level one' merchants - the high street and multi-national retailers - and making sure they are compliant with PCI DSS.