Merchant Account Alerts

Heartland Payment Systems Inc Data Breach
More information has surfaced on the cardholder data breach that occurred at the Princeton NJ’s credit card processor, “Heartland Payments Systems, Inc”. President and Chief Financial Officer, Robert Baldwin, stated “As deeply regretful as we are, it is important to note that in most of the cases the information would [...]

US Banks Report Lower Credit Card Spending
The large US Banks reported lower credit card spending in Q4-2008. According to CNN Money, the large issuing banks report consumer credit card spending was down in the 4th Quarter of 2008.

Bank Of America: Down 17.2 % in Q4, over the same quarter.
Citi Bank: Down 15 % year-over-year.
JP Morgan Chase: [...]

H.R. 5244 Credit Cardholders Bill Of Rights
Consumer protection legislation sponsored by Rep. Carolyn Maloney (D-NY) that would limit interest rate hikes and hidden fees on credit card accounts. This bill passes the US House of Representatives and is awaiting a vote in the US Senate. President Barack Hussein Obama stated during the campaign that would sign [...]

Potential Largest Breach In History
Heartland announced this week that the company breached possibly over 600 Million credit card transactions, since May, 2008, as reported in the Ny Times. Seems hacker’s secretly installed a software program that captured the personal credit card numbers, of customers swiping their credit cards at merchant locations who process credit cards with Heartland.
Information [...]

Understanding Your Merchant Account Responsibities !!!!
If you are shopping for a new merchant account, you need to understand what you are getting into. Many times business owners are in a rush to set-up credit card processing for their business, they overlook the fact that they are entering into a contract that has many responsibilities and rules to abide [...]