Visa, Amex cut ties with CardSystems

Wednesday, 20 July 2005, 10:43 AM EST

Visa USA Inc. and American Express Co. are cutting ties with the payment-processing company that left 40 million credit and debit card accounts vulnerable to hackers in one of the biggest breaches of consumer data security.

CardSystems Solutions Inc. "has not corrected, and cannot at this point correct, the failure to provide proper data security for Visa accounts," said Rosetta Jones, a spokeswoman for Visa.

By Brian Bergstein at InformationWeek.

[ Read more ]




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