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CardSystems loses trust of other credit card companies

In a Cnet/Reuters News item, CardSystems is quoted as ‘facing imminent extinction’.

Credit card giant Visa USA said this week it was cutting off CardSystems as a Visa network participant due to the data breach, apparently the largest ever of its kind.

“With that staring us in the face, it certainly means we would go out of business because, if you can’t process with a major brand such as Visa, you can’t process at all,” CardSystems Chief Executive John Perry told Reuters.

I feel only sad about the fact that if CardSystems goes bankrupt, all those people who were affected by the errors made by the people in CardSystems will probably have nobody to file complaint against.

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