News

AmEx dumps hacked card processor

Antony Savvas

American Express has joined Visa in dropping CardSystems Solutions as a payments processor, following the data security scandal that compromised the personal data of 40 million credit card customers.

In the biggest ever single breach of personal data security in US history, it is believed that the records of around 200,000 credit card customers were stolen. 

The FBI is investigating the theft, which could lead to customers’ identities being used by the hackers to commit fraud.

Visa announced it would no longer use CardSystems earlier this week and American Express has now followed suit. Both companies say they lack confidence in the processor’s security systems.

MasterCard, which also uses CardSystems, has given the company until August to put in place improved security systems to stop the kind of breach that took place this June.

CardSystems said it was “disappointed” by Visa’s decision but hasn’t responded so far to American Express’s move.


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