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.
