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"An attorney in Atlanta has filed a class-action lawsuit against RBS WorldPay for allegedly failing to protect personal information."
This problem can be eliminated altogether by allowing cardholders to turn on and off their cards. Many issuing banks have realized this. See https://www.finextra.com/fullstory.asp?id=19597, Handelsbanken puts locks on cards.
All ATM authorizations eventually go to the Issuing Bank's authorization system. This system needs to be implemented with the Issuing Bank.
This class-action lawsuit against RBS WorldPay is misplaced since the real solution to this problem lies with the Issuing Banks.
Regarding Handelsbanken, some banks are making it easier for me to market the system that I invented. I have written to Handelsbanken just as I did to other banks and other companies.
This is a great validation of my years of work on this patented system. VISA filed for the same 'claims' but 14 months after I did. I received the patent for my applicationn in August 2005. Worldwide PCTs have been filed based on the same priority date (Feb 2001) as the US Patent.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Parminder Saini CEO at Triple Minds
09 October
Stanley Epstein Associate at Citadel Advantage Group
Monica Eaton Founder & CEO at Chargebacks911 and Fi911
07 October
Sam Boboev Founder at Fintech Wrap Up
05 October
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