Who Checks Up On The Master(Card)?

from the priceless dept

In an effort to get online retailers to beef up their security measures, MasterCard says it will charge reduced transaction processing fees to those that use its SecureCode authentication service, as well as offer free network vulnerability scans to check the security of their sites. The motives aren’t completely altruistic, since the use of stolen credit cards costs the company, but beefing up retailers’ online security is a good thing nonetheless. Just one question though — who gives MasterCard an incentive to tighten up the security of the rest of its chain? Remember that a card processor MasterCard used leaked 40 million credit card numbers — numbers that it wasn’t even supposed to have. Sure, the company lost its processing contracts and subsequently disappeared, but that’s of little solace to 40 million credit card holders. As long as MasterCard’s got little to fear in the way of fines, it seems like it could be a little short on motivation.

Rate this comment as insightful
Rate this comment as funny
You have rated this comment as insightful
You have rated this comment as funny
Flag this comment as abusive/trolling/spam
You have flagged this comment
The first word has already been claimed
The last word has already been claimed
Insightful Lightbulb icon Funny Laughing icon Abusive/trolling/spam Flag icon Insightful badge Lightbulb icon Funny badge Laughing icon Comments icon

Comments on “Who Checks Up On The Master(Card)?”

Subscribe: RSS Leave a comment
noname says:

My mastercard

Having a Mastercard for many (10’s) of years,(with never a bad charge, lost or stolen card) I got a strange letter in the mail. Effective 2 weeks from now you are getting a new Mastercard with a completely new number. I was perplexed since my current card was still good for a year more or so, and they almost never change the number since it effects all my auto-billings. I then put things together, this was about 2 weeks after all that credit card info was lost/stolen…my number must have been in the batch. So far so good with my accounts.

clover says:

Re: My mastercard

Wow… your lucky… I had to switch because my master card was always getting some kind of stupid charge… I was always “responsible” for it and was never given a new card number. The strange thing about mine was that the card I had was only active for about 2 months AND I had only used it once, before paying it off and cutting it up… consider yourself one of the lucky customers.

Add Your Comment

Your email address will not be published. Required fields are marked *

Have a Techdirt Account? Sign in now. Want one? Register here

Comment Options:

Make this the or (get credits or sign in to see balance) what's this?

What's this?

Techdirt community members with Techdirt Credits can spotlight a comment as either the "First Word" or "Last Word" on a particular comment thread. Credits can be purchased at the Techdirt Insider Shop »

Follow Techdirt

Techdirt Daily Newsletter

Techdirt Deals
Techdirt Insider Discord
The latest chatter on the Techdirt Insider Discord channel...