"SECURITY UPDATE:
INTERNATIONAL BANCARD SOLUTION IS BEST-OF-SCIENCE"

Many of our colleagues and competitors’ processing solutions have been vulnerable to data breach, according to stories in USA Today. 

These non-compliance issues occurred when processors did not encrypt transaction data, thereby exposing its customer data to on-line thieves across the globe. International Bancard’s processing solution utilizes a load-balanced multi-infrastructure approach that ensures secure, PCI compliant transmissions each time, every time.   International Bancard provides more detail in its latest on-line Merchant Services newsletter – Financial Transaction News.   International Bancard’s processing partner was named by Forbes Magazine as “one of the best and most secure companies to work with and for…” in the February, 2009 edition of the Magazine.   How Important is This?  Let’s Visit the Story Again – quoting the Associated Press now….

The revelation this week….by the sixth largest payment processor in the U.S., that criminals had secretly installed spying software on its computer network could go down as one of the biggest data breaches on record…

….the security hole that allowed criminals to infiltrate their systems, but the matter is far from settled.  The company will likely have to pay for big penalties to banks to reimburse the cost if issuing new cards, and analysts say the intrusion could even threaten the company’s survival if the big card brands decide to cut off COMPANY NAME from connecting to their networks….the potential damage could be very large because COMPANY NAME from connecting to their networks….the potential damage could be very large because COMPANY NAME processes 100 million transactions a month, mostly for small to medium-sized businesses.   The company says the average merchant in its network does about $350,000 a year in Visa and MasterCard transactions….

Unlike a breach involving a single merchant, where the retailer risks losing its customers’ confidence, a payment processor that’s breached risks losing the confidence of its merchants….consumers typically don’t have to pay for fraudulent charges on their accounts, whereas merchants can be saddled with big costs when their businesses are the victims of fraud.

The story went on to point out that this large provider did not have separate networks for its processing and corporate cyber-activity.   The malware that the thieves attached to this huge processing firms’ infrastructure could have been attached by any number of methods….

When you compare and contrast this to International Bancard and its processing partners – the local on-site technical support, its proprietary CRM application and solutions providers that bring this Global Mega Data center multi-million processing option that’s untraceable by these 24 x 7 x 365 thieves – there clearly is an International Bancard difference….