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PuppyBismark

(607 posts)
14. It is not Visa or MC, but the payment processor - the companies that service retail card swipes
Fri Mar 30, 2012, 03:01 PM
Mar 2012

When your card is swiped at a retail company, your information is passed to a card processor, who then sends it to Master Card, Visa, or the issuing bank. These guys sell the credit service to the retailer who then can accept all kinds of cards from all the card vendors and banks that issue them. There is no real way for you to know places your card number goes on the way to the issuer. Thus the way to understand if your account has been compromised is to know who your gas station, supermarket, etc. uses for their processing or really to wait for you card issuer to contact you.

These processors are supposed to encrypt all this information everywhere, but some of them have yet to complete this work as it costs money and money for security takes profit from the stock holders.

Nowhere in these systems should the cards appear unencrypted or unsecured, but ............ One more example of the banks and their ilk gambling with our money in their quest for profit.

Recommendations

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Oh, come ON! I just got a new card YESTERDAY. n/t Ian David Mar 2012 #1
Paypal perhaps? nt bemildred Mar 2012 #2
Nope - Global Payments. dipsydoodle Mar 2012 #15
Reading the article drm604 Mar 2012 #3
poorly written article -- maybe 10 million accounts are affected. unblock Mar 2012 #4
we just canceled a card because a fraudulent charge showed up. unblock Mar 2012 #5
This is very ungood. Ruby the Liberal Mar 2012 #6
I have VISA and any time I order something online I get a phone call to verify the purchase. I southernyankeebelle Mar 2012 #7
why is it worth it if it costs you the cost of the protection plan? CreekDog Mar 2012 #9
Well I just trust it more. I had a charge on my account once that wasn't mine. I called they southernyankeebelle Mar 2012 #11
yeah but getting a new card is free CreekDog Mar 2012 #13
No I know it doesn't cost more. But I like getting the call right away within 30 mins when a charge southernyankeebelle Mar 2012 #16
Ok I understand that. There is a free way to do that too, however. CreekDog Mar 2012 #17
Thank you I appreciate your input. Nothing wrong with you wanting to help. I really appreciate it. southernyankeebelle Mar 2012 #19
nuisance tru Mar 2012 #21
Good for you. southernyankeebelle Mar 2012 #22
Merchants on hook for 'Global Payments' breach jannyk Mar 2012 #8
F* LittleGirl Mar 2012 #10
Wow, I was notified last week that my debit card was compromised freeplessinseattle Mar 2012 #12
Same here (in DE) - "Irregular activity" to the tune of $600 woodsprite Apr 2012 #26
scary, good thing you didn't have to pay for the theft! freeplessinseattle Apr 2012 #27
Hubby thinks it came from a transaction at our RV storage place woodsprite Apr 2012 #28
It is not Visa or MC, but the payment processor - the companies that service retail card swipes PuppyBismark Mar 2012 #14
TIA, Total Information Awareness lives just1voice Mar 2012 #18
yottabytes - wow: Mnemosyne Mar 2012 #20
I got hit on one of my VISA cards this month. Behind the Aegis Mar 2012 #23
Very scary stuff. virgogal Mar 2012 #24
One of the many reasons to never swipe you're debit card at a retailer. sarcasmo Apr 2012 #25
What they need is a tax cut, to keep this sort of thing from happening again. LaydeeBug Apr 2012 #29
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