Industry News


In the realm of cyber security breaches regarding financial data news stories, a new victim has emerged.  One of the biggest insurance companies in the United States is not only the first health insurance company to be attacked, it has also suffered one of the largest data breaches in United States history.  Up to 80 million people may soon be getting a notice from their insurance company that their personally identifiable information was recently stolen by hackers.

Names, dates of birth, personal contact information, employment and salary history and, perhaps most significantly, social security numbers, were all stolen in the recent breach. While the FBI suspects that the hackers are from China (due to the fact that the attacks originated from infrastructure there), as of yet there is no definitive proof.

One of the insurance company associates noticed the breach after detecting an unauthorized database query, running under the associate’s logon. The company’s information technology department subsequently discovered further unauthorized queries.

According to the Wall Street Journal, hackers were able to gain access because the insurance company had not sufficiently encrypted customer data. Two lawsuits are already filed alleging this.

Affected clients will receive notification shortly. The insurance company promises that all of its customers with compromised data will receive extensive identity protection services.  In addition, the healthcare giant will be installing new security measures, i.e., cloud encryption security, assuring the improved safety of personally identifiable information.

Worried about your customer base and their sensitive personal and financial information? Contact us for the very best and latest in cyber security measures.

ProPay customers can now take advantage of the highly secure and simple online payment system offered by Visa. Visa Checkout is a fast enrollment process and can help speed up the checkout time for your customers and allows customers to safely store their card information.

Not only does Visa Checkout process Visa credit cards, it also allows you to use cards from other major brands as well.  Enrollment into the program is easy and once enrolled customers conveniently provide only their username and password to complete payment processes.  Visa Checkout also does not re-direct you from your merchant website, making it fast for your customers to purchase an item and keep on shopping. The online shopping experience is replicated in its convenience across all mobile devices as well.

As most merchants have experienced the online checkout experience continues to be a confusing and stressful pain point for would-be customers. According to eMarketer, up to 68% of would-be clients abandon their check-out shopping cart when they get to the payment step online, and that number reaches 86% on mobile devices.

ProPay continues to provide the leading technology to enhance your businesses payment processing capabilities. As more and more customers purchase items online and through mobile devices, Visa Checkout is the ideal addition to the suite of products and services we offer.

To learn more about Visa Checkout, and other ProPay solutions feel free to Contact Us.

“You get what you pay for.” You’ve undoubtedly heard that phrase before and have possibly learned through personal experience that it is in fact true. When it comes to merchant services, this saying is no exception. With the industry buzz about “Free Accounts” or “Free Card Readers”, more and more companies are falling for this trend without fully understanding what this so-called “free” really entails.

In order to better define these free services, the following sections offer a comparison between ProPay’s services and a competitor offering a free merchant account and reader.

Secure Card Readers

ProPay

Free Service

  • All of ProPay’s approved card reader devices encrypt sensitive credit and debit card data “on the head” of the device as information is collected off the magnetic stripe.
  • ProPay’s ProtectPay enables merchants place customer’s credit card data on file for repeat billing.
  • Additionally, ProPay over 10 ways to accept payments.
  • Competitor offers no ProtectPay equivalent.
  • Competitor offers no “clip” to secure the reader in the audio jack permitting it to spin around and risk damage to the audio jack. Also requires the merchant to awkwardly hold the phone and reader while attempting to swipe the card.

Competitive Rates

ProPay

Free Service

  • 2.60% on all swiped (Visa, MasterCard, Discover; AMEX is slightly higher).
  • 3.40% on all keyed (Visa, MasterCard, Discover; AMEX is slightly higher).
  • ProPay provides multiple tier pricing options that offer better transaction rates based on merchant’s needs.
  • 2.75% on all cards swiped.
  • 3.50% + $0.15 on all cards keyed.
  • One size fits all.
  • No data coverage, no ability to accept payments.

Fund Accessibility

ProPay

Free Service

  • No bank account is required.
  • Easily transfer money to your own bank.
  • Access funds immediately through Enhanced SpendBack.
  • Funds should be available within 24 hours.
  • Process up to $1,000 per week. Any amount over $1,000 is held in reserve for 30 days.
  • Limited to “banked” customers with a Smartphone and a data plan.
  • Bank Account is required.

Customer Service Capabilities

ProPay

Free Service

  • Phone, Email, Chat
  • U.S.-based customer service representatives.
  • Representatives that speak the following languages: English, Spanish, French.
  • Available Monday-Friday 6:30 AM – 7:00 PM MST
  • SMS, Email, Phone Monday-Friday 6:00 AM – 6:00 PM PST.
  • SMS, Email, Phone Monday-Friday 6:00 AM – 6:00 PM PST.

Recently, an online dating service was compromised affecting some 20 million customers. The breach affected usernames and emails of visitors for the Russia-based site.

The company, luckily, does not store any customer financial data, however there is still reason to be concered regarding the access of emails and usernames which can be used to traced to other online financial transactions by the customer.

The difficulty in tracking where these hacks come from and what will happen to the data makes protection from an attack the best method to avoid issues within the company and frustrations of your customers.

In order to maintain your company’s protection and on-going cybersecurity strength it is vital to optimize your IT infrastructure. Frequent updates and tests of the entire system and checking for flaws in the network will help companies large and small avoid costly and time-consuming issues.  To learn more about options for network security, contact us.

A British retailer, known in the United Kingdom and around the world for its wide selection of fashionable footwear recently experienced a security breach. Over one million customers were affected, and this is the latest examples of cybersecurity hacks.

Compromised data includes customer contact information and website passwords. The retailer had security measures in place, but the hacker was able to enter the company’s network through an unencrypted database that had been scheduled to be decommissioned. The attack happened last May, but was just recently reported. A warning has been issued to customers to keep an eye on possible account compromises.

In documents provided to British authorities, company executives say that the shoe retailer retained historic customer data because the company thought that removing it would be complicated for the retailer’s operations. They now realize those complications were overstated, and the data did not need to be retained. The servers that were affected have now been decommissioned.

Officials say that companies need to have stronger measures in place to prevent similar breaches. Businesses should:

- Have policies governing how customer data is stored

- Regularly assess how customer data interacts the IT infrastructure

- Test website and servers on a regular basis

For more information about cyber security measures, contact us.

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