Cardsystems Death Penalty?
“CardSystems has not corrected, and cannot at this point correct, the failure to provide proper data security for those accounts,” said Tim Murphy, Visa’s senior vice president for operations in a memorandum sent to several banks. “Visa USA has decided that CardSystems should not continue to participate as an agent in the Visa system.”
So reports the New York Times in “Visa to Bar Transactions by Processor,” via ISN.
This is sad for Cardsystems, and annoying for their customers, but an extreme response every now and then can help focus the mind wonderfully.
It’s about time. Nice to see that Visa had the balls to do something substantive unlike MasterCard….
-DM