SAN FRANCISCO – Although it is taking pains to not be seen as taking responsibility for card data breaches, Visa USA has put some policies into place to prevent them and to ameliorate their damage.
Beginning Oct. 1, Visa says it will implement the Account Data Compromise Recovery process, a procedure which will both provide a small measure of recompense to issuers who have suffered losses from card data security breaches and also provide a faster process for reimbursements of fraud losses, the card brand said.
"Our goal is to prevent fraud. But when it does happen we want to be able to help issuers and acquirers recover as quickly and efficiently as possible from its impact," said Jean Bruesewitz, senior vice president, with Visa USA.
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