Credit card profiles stolen, major data security breach at Wyndhams, Merchants Beware!
Wyndham Hotels & Resorts in the United States have reported a serious breach in the data storage system of the company, hackers managed to steal thousands of customer’s credit card numbers from the secure computer systems of the company.
This happened at one of Wyndhams franchisee in July or August of 2008, the computer system of that company was linked with the main server used by Wyndhams; as a result the intruder could hack and access the credit card information of many of its customers.
The company sources are saying that computer systems of 41 Wyndham Hotels and Resorts were victims of this hacking, and credit card numbers of 21,000 customers from Florida were stolen, apart from the data theft of customers from other regions.
There is a thriving underground trade in re-selling the stolen credit card numbers, each stolen credit card number fetching $2 to $3, and if accompanied with full profile, such as mother’s maiden name, date of birth, social security number and possibly an ATM PIN, the hacker can earn roughly around $10 for the steal.
The easy accessibility of stolen credit card profiles in the grey market is proving to be a nightmare for all merchants, especially for card-not-present transactions on the internet, annually billions and billions of dollars are being lost due to credit card frauds.
Just how to prevent the credit card fraud from happening?
A million dollar question awaiting a yet-to-be found solution, security advisors to merchant web sites online have devised a credit card fraud prevention mechanism that is providing an effective shield, which is successful nine out of ten times.
How does this shield work? – As soon as a customer enters his credit card information on a merchant’s web-site, an automated process online forwards the information to the security-provider who has access to a comprehensive data base which has minute-by-minute updated information on all fraudulent credit cards in circulation world wide.
There is other multiple security checks provided by the agency in a short period of time, which help in analyzing if the credit card is genuine or not, accordingly the transaction is flagged, declined or approved, a report that is generated is forwarded to the merchant for further processing.
The enhanced security check has saved merchants prevent multi dimensional credit card frauds and possible charge backs by credit card companies. Prevention is better than cure, Merchant Risk Management Service is a preferred option for preventing online credit card fraud.
Watch the video related to online credit card
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Help answer the question about online credit card
Most cost effective online credit card merchant?I will be opening an online store and my head is swimming from all the different options out there! I need to be able to accept credit cards (both online and offline). I'm looking for the most cost effective company with low monthly fee and low per transaction fees.
Anyone have any suggestions or recommendations?
I'm located in Virginia and have a business license. I'm also set up for State Retail Taxes.
May 11th, 2010 at 9:36 am
How Payment Processing Works
Before being able to accept credit card transactions and other forms of online payments, a merchant will need to set up a merchant account with a bank. A merchant account is the industry term for a business banking relationship whereby you and a bank have arranged to accept credit card payments (usually, a local bank can suffice for this kind of relationship). Setting up a merchant account usually involves the bank understanding your business and working with a third-party processor to arrange a mechanism for accepting payments. For more information on setting up merchant accounts, we recommend you take a look through the http://www.card-gallery.com to get you started in the right direction.
May 11th, 2010 at 10:09 am
Follow the instructions, First name, then last name . . .
The merchant will submit the name to the credit card company for verification. As long as the credit card company doesn't have the name wrong, it should work.
May 11th, 2010 at 1:08 pm
Online is a much better place to find a card than a local bank. You can find a lot of good promotions. My personal favorite is the discover more card. 5% cash back on selected categories the categories change every 3 months from things like dining out, hotels, food, and gas. Everything else you get a respectable 1% back on. There is also a 0% interest for 6 months promotional purchase APR. So as long as you get the thing paid off by the end of the 6 months the cash back is like free money! Check out the promotional APR at http://www.ridiculouscredit.com and click on 0% APR cards on the left hand side.
May 11th, 2010 at 9:15 am
lol battleship row 8:29 just hope i doesn’t end like last time
May 11th, 2010 at 10:12 am
lol congo line .P
May 11th, 2010 at 1:53 pm
lol at WoW.
May 11th, 2010 at 5:07 pm
penality, punished for moving.
May 12th, 2010 at 12:34 pm
Try the paypal method:
Sign up for a paypal account, and add your card, then withdraw the money for the payment with paypal before paying, so paypal has a ballence, then pay for EVE using the money on your paypal account. The statement will say something like "PayPal withdrawal"
May 12th, 2010 at 2:15 pm
Probably millions, and only 3 percent get aproved.
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http://www.bestcreditrates.net
May 12th, 2010 at 3:35 pm
wuts dis WoW copy? look boring :S
May 13th, 2010 at 12:40 am
No, not at all. Your reply email with your information is probably in line to be reviewed and "looked at". You will receive a reply possibly with a card or not in about a week. Good Luck.
May 13th, 2010 at 2:25 am
As long as you pay at least the minimum payment before the due date, you will be reported as "on time" to the credit bureau. If the second installment is after the due date, you will have to pay interest on your next statement. To avoid paying interest, you have to pay the whole balance before the due date.
May 13th, 2010 at 2:26 am
Awesome fight there guys, and Borne says o/ great job ^^.
He can remember when we were contemplating the ECM Burst griffin.
Again awesome fight.
Wow fails.
May 13th, 2010 at 3:13 pm
the only thing more dangerous than someone with bad credit is someone with no credit. they are wary of you since you have no established credit, your a student blah blah blah. it takes them awhile to verify your status, residence, job (if you have one), and your account status. if you had established credit then it wouldn;t necessarily take this long to approve or deny your application. if you do get this one and are financilly responsible; when you apply for other cards in the future, the response time will be a lot quicker. basically, once they can pin you down, see you can make payments, you'll get it.
May 14th, 2010 at 9:36 am
Do you have an ATM card with visa/mastercard logo on it?
May 14th, 2010 at 12:34 pm
it is a penalty for moving by the developers. you cant move until the mach starts
May 14th, 2010 at 3:33 pm
well the reason you waited with the crow is probably because the curses were chasing him around and a curse to the crow pilot is death. and “gangsta” lol your probably from new hampshire so you failllll
May 14th, 2010 at 7:00 pm
cept wows arenas a copy of this, this been around a damn sight longer than wow itself.