Whether it’s mobile payment fiascos, PCI security changes, E-Commerce hiccups at your largest rivals or new CRM legal hurdles you now need to clear, FierceRetailIT lets you know first. Sign up for our free weekly email newsletter today!
Target has reached an agreement with Visa that will reimburse card issuers up to $67 million for costs incurred by the retailer's data breach during the 2013 holiday season. The deal covers credit cards and debit cards issued by financial institutions under the Visa brand. It took months of negotiations, and the specific dollar amount of the deal has not yet been disclosed, The Wall Street Journal reported.
After failing to pass the Cybersecurity Information Sharing Act prior to its August recess, the U.S. Senate has postponed action on the bill—which some saw as urgent and others thought was being rushed—until September.
The online photo sites of several retailers, including Costco, Sam's Club and Rite Aid, are still inoperative after being taken down more than a week ago, following a presumed hacking incident. The sites are not expected to return until early August, thus missing much of the summer photo processing season. PNI Digital Media, owned by Staples and used by several retailers to manage photo sites, is investigating the possible data breach. It is not clear whether any customer information has been taken.
Eataly's retail location in New York City has reported a possible data breach in its POS system. The company's website warns consumers of the potential security incident, urging consumers who purchased items between Jan. 16 and April 2 at the New York City location to immediately check their bank accounts. "Based upon an extensive forensic investigation, it appears that criminals unscrupulously hacked our network system and installed a malware designed to capture payment card transaction data," according to a company statement. An investigation was officially launched after several Eataly employees, who also made purchases at the store, found fraudulent charges on their credit cards, PYMNTS reported. The malware has now been removed and security measures are in place.
Cellphones, batteries and connecting cables aren't the only things up for grabs as RadioShack's going-out-of-business sale winds down. The company also has millions of customer names and emails at its disposable, and, with that information, a sizeable amount of potentially valuable consumer data.
Cisco Systems is warning of a new breed of malware technology, nicknamed PoSeidon, that targets point-of-sale systems. This is bad news for retailers that are still reeling from the many data breaches of recent history, such as those that hit Target, Home Depot, Staples and Supervalu.
Target Corp. has proposed a $10 million settlement of a class action lawsuit regarding the high-profile 2013 data breach that compromised the personal and credit card information of as many as 110 million people, according to court records.