Essays on Cardholder

In January 2009, Heartland Payment Systems announced that it had encountered a breach in its security system the previous year. The breach had compromised data of more than 130 million credit and debit cards transactions as the transaction data was being transmitted in an unencrypted form within its internal processing platform. The company was certified Payment Card Industry Data Security Standard (PCI DSS) compliant and had implemented all the required controls, but could not avert the breach. This paper examines if compliance with standards is enough to ensure data security. The paper will suggest the approach to be taken ...

Importance of the Security Plan to the Company

Setting up and keeping up data security arrangement through a security administration arrangement is basic to an association's advancement and achievement. A vigorous and legitimately executed security arrangement helps the association with the training, observing, and continuous support of security mindfulness inside the association. One of the greatest dangers to an association's data security is frequently not a shortcoming in the innovation control environment. Or maybe it is the activity or inaction by workers and another faculty that can prompt security occurrences. For instance, through exposure of data that could be utilized as a part of a social designing ...

PCI is an abbreviation of Payment Card Industry. PCI compliance is, therefore, the following of a particular set of security standard that was developed to protect card information during and after a financial transaction. Companies that are compliant with PCI DSS regulations are less likely to have the data breach. The data collection of the cardholder is, therefore, advised where it is deemed necessary. The information collected should also be stored appropriately according to the PCI DSS regulations. BCS, on the other hand, is an abbreviation of British Computer Society while HIPAA is legislation that provides data privacy and ...

Data breach is the act of viewing or acquiring ones secure data or confidential information without the authorization of the authorized user and releasing it to an untrusted environment. This is mostly done by hackers who get this type of information and sell it to willing buyers. The kind of information that suffers this kind of menace is financial and personal information on credit and debit cards. When applying to get a credit or debit card, one has to offer their personal data and their account details so that the companies involved can keep track of the transactions. In ...

In the materialistic world that we live in today, money has become the center of our lives focus. It has become hard to ignore this commodity because everything comes with a price tag. Consequently, it has evolved throughout history and the paper money we use today is the modern day method of buying and selling. However, paper money is not the only means to make purchases. Ways to purchase items can further be classified into three categories; debit, credit, and cash. As a result to make lives even more convenient for the modern day customer the idea of plastic ...

- The minimum monthly payment on an outstanding debt of 5270 dollars would be 2% of the outstanding amount which is 105.4 dollars. Out of this minimum monthly payment of 105.4 dollars a certain portion would go towards reducing the outstanding balance and some portion would go towards paying off the interest. The interest component would be 15.53%/12=1.294 %. Then multiplying this by the outstanding amount of 5270 gives us the interest payment of 68.2 dollars. The principal portion would be 105.4-68.2 =37.1974 dollars. See Attached excel sheet for calculations. - Assuming that my credit card has an outstanding ...

Question 1

American express issues its cards directly to their customers and also deals directly with the businesses that accept its cards. This is as opposed to Visa and MasterCard that issue their cards through banks and also uses the services of banks such as Chase Bank and Bank of America to deal with the merchants. This strategy has given American Express a unique opportunity to be able to deal with customers’ complaints as they have access to the transactions and also to the merchants that offer their cardholders services, something that Visa and MasterCard cannot do since they have no direct ...

Credit Card Debt in U.S.

Abstract

This essay investigates the undefined and uncontrollable debt caused by credit cards. The customers are also responsible for this, but the general market adopted this method very easily and quickly in order to have fast and easy money. People do not need to carry paper money anymore. Nowadays, they only need a plastic card, which has the power to purchase virtually anything a consumer want except luxuries. Therefore, in this context, this paper examines and researches the idea of the credit card by looking at its components. The factors of the economy in the world are ...

What People Should Konw About

Credit cards are probably the best type of convenience that the financial world had offered to the people. It is most often regarded as the most valuable plastic material on earth because of its power to get anyone anything within the purchasing capacity of the credit card they own. However, credit card is not always as fantastic as they seem. There are certain things that people don't know about underneath the irresistibly high credit limits and zero interest rate offers. The fine prints at the back of every application forms are often neglected and people doesn't take the time ...