Transaction Processor Global Payments Hit by Breach

(Ping! Zine Web Hosting Magazine) – Transaction processing company Global Payments revealed late last week that it had been hit by a breach possibly effecting data pertaining to a million and a half credit cards. Global Payments represents one of the largest transaction companies in the world as a Fortune 1000 company.

The intrusion is believed to have only affected the company’s North American customers and Global Payments referred to the matter as “contained.” Discussing the issue in a press release on Sunday, company CEO Paul R. Garcia said Global Payments was “making rapid progress towards bring this issue to a close.”

Despite the breach, Garcia emphasized that his company remained “open for business.” While the incident appears to now be controlled, it’s already cost the company in one area. According to several reports, top credit card company VISA had already removed Global Payments from its list of compliant service providers.

Meanwhile, Global Payments had reason to believe that data stolen from the transaction did not contain customer data such as names, social security numbers and addresses. Since last year, data intrusions have been on the rise. In June, financial institution Citigroup faced a breach of its own with data of more than 200 thousand customers being leaked.