Heartland agrees $3.6 million settlement with America Express

Heartland Payment Systems has agreed to a $3.6 million settlement with American Express relating to the criminal breach of the New jersey-based payments processor in 2008.

  0 Be the first to comment

Heartland agrees $3.6 million settlement with America Express

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

In a statement, Heartland says the payout resolves "all intrusion-related issues between the two parties".

Bob Carr, Heartland's chairman and chief executive officer, says: "This settlement marks the first agreement with a card brand related to the intrusion."

The firm is currently seeking to negotiate similar settlements with other schemes.

The deal with Amex comes just a month after Heartland revised its third quarter results by doubling the provision - to $73.3 million - for expenses related to the massive data breach it suffered last year, when intruders crashed the company's systems and potentially compromised the card data of millions of people.

Sponsored [On-Demand Webinar] Solving the KYC challenge with end-to-end processes

Comments: (0)

[Webinar] Reaping the benefits of Hyper-Personalisation with AI and Application ModernisationFinextra Promoted[Webinar] Reaping the benefits of Hyper-Personalisation with AI and Application Modernisation