Visa and MasterCard are sending alerts to banks this morning about a major security breach at a major payment card processing firm. A few minutes ago, the Wall Street Journal is now reporting that the processor is Atlanta-based Global Payments.
Other industry sources revealed that numbers from more than 10 million credit card accounts may have been stolen in the breach, with the suspected breach occurring through a New York City taxi and parking garage company.
In 2008, Heartland Payment Systems lost 130 million payment card records produced by 250,000 merchants and restaurants. Since then, 46 states have enacted data breach disclosure laws requiring merchants and payment card issuers (mostly banks and credit unions) to notify impacted customers in a timely manner that their card numbers may have been stolen.