A payments industry task force predicts 98% of eight major financial institutions’ cards will have chips by year-end 2017.
Payments processor also says that some merchant applicants' information may have been compromised.
It appears that the card data security breach at card processor Global Payments Inc. may be a good deal larger than card issuers, including credit unions, may have expected.
CUNA Mutual Group has sent a risk alert urging its bonded credit unions to warn members about possible phishing attempts following the Global Payments breach.
Once again, credit card issuers across the country have begun to assess the impact of a significant card data security breach at a major card processor.
The Members Group says prevention strategies will be different for every issuer after Global Payments Systems breach.
Company confirms that 1.5 million card accounts were compromised.