Feb 242010

Evan Schuman comments:

In its latest financial report, Heartland Payment Systems reported that it dropped $129 million on data breach costs last year (an incident that briefly placed Heartland on Visa’s Bad Breach Boy list). The company added that it still has a reserve of $100 million for additional expenses.

As a processor, Heartland’s pain is certainly much more severe than what would be inflicted on a retailer involved in a similarly large breach. But $229 million is starting to look like real money.

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