SAN FRANCISCO – Although it is taking pains to not be seen as taking responsibility for card data breaches, Visa USA has put some policies into place to prevent them and to ameliorate their damage.

Beginning Oct. 1, Visa says it will implement the Account Data Compromise Recovery process, a procedure which will both provide a small measure of recompense to issuers who have suffered losses from card data security breaches and also provide a faster process for reimbursements of fraud losses, the card brand said.

"Our goal is to prevent fraud. But when it does happen we want to be able to help issuers and acquirers recover as quickly and efficiently as possible from its impact," said Jean Bruesewitz, senior vice president, with Visa USA.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.