Canadian Tire cancels 16,000 Mastercards after Heartland breach results in hundreds of cards being misused

Canadian Tire (TSX:CTC) says it has cancelled and is re-issuing 16,000 Mastercard credit cards issued by its financial services arm over security concerns.

Spokeswoman Lisa Gibson says the cards were deemed to be at risk after a widespread security breach disclosed last week by Heartland Payment Systems (NYSE:HPY), a U.S. credit card transaction processor.

Gibson says for the most part, the cancelled Options Mastercards were deemed to be at risk because they had been used in the U.S.


Canadian Tire Financial Services manages the country’s second-largest MasterCard franchise, with more than five million accounts.

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Note: Ms. Gibson informs me that 2% of the cards involved had been misused.

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