Visa USA Bars Transactions from CardSystems
Eric Dash reports for the New York Times that Visa USA said yesterday it would stop allowing CardSystems Solutions to handle Visa transactions as a result of recent security breach issues with the firm.
"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."Dash reports that Visa has given eleven banks using CardSystems as a processor until the end of October to change to another processor.
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