Global Payments hopes to soon regain PCI compliance after breach

Stephanie Wright, Contributor

Payment processing company Global Payments said today it's working to regain PCI compliance following a breach announced late last week. Visa

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Michael S. Mimoso, Editorial Director

< align='right' border='0' style='padding-left:10px;' border=0 > removed Global Payments from its list of PCI compliant companies following the breach, wherein it's been reported that 1.5 million records were lost. Visa said this may re-evaluate Global Payments after the belief of ongoing investigations and remediation measures, in keeping with Paul Garcia, Global Payments chairman and CEO.

approximately 1.5 million individuals but not their names, addresses, Social Security numbers or other personal information, was self-reported after discovery through existing security features, Garcia said.

 “Just detecting it early is an effective thing, however it doesn't necessarily forgive us from seeking to stop it altogether. So we're concerned with that aspect of it,” he said. “Are we going to spend much more money (quite frankly) on security? The answer's yes.”

The Global Payments management didn't specifically identify steps that might be taken to reinforce security following the required investigation and compliance remediation measures. They did emphasize that the incident occurred within a subset in their North American processing system instead of through a merchant or point-of-sale system, and they aren't fascinated with their relationships with partners and consumers. Also they are processing all payment transactions as usual, including Visa transactions.

“I think our merchants and our customers do not forget that this may make us even stronger,” Garcia said. “This will make us all better… We're all during this together.”

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