NEW YORK ( TheStreet) -- Shares of Global Payments (GPN - Get Report) opened 3% lower on Monday after it said that an "unauthorized access" into its processing system had exposed 1.5 million card accounts.
That follows a 9% decline on Friday, when
The card payments processor said the hackers accessed so called "Track-2" data but cardholder names, addresses and social security numbers were not obtained by the criminals. It also said the incident was confined to North America.
Still, Visa (V - Get Report) dropped Global Payments from its list of approved service providers after the intrusion and told the company to revalidate its compliance process with the industry's security standard.Global Payments has said it expects to be reinstated once they have issued a new report of compliance, according to press reports. Mastercard (MA - Get Report), which also said its customers may have been affected, has not yet taken any action against Global Payments.
>To contact the writer of this article, click here: Shanthi Bharatwaj.
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