Story:
Visa and MasterCard Issue New Breach Warning @ Wired.com
"The two credit and debit card issuers are warning financial institutions that malicious software was placed on the network of a payment processor, according to an announcement posted by the Tuscaloosa VA Federal Credit Union. The announcement was uncovered by Databreaches.net."
The first thing that comes to mind when I read this is the "creativity breach" that has occurred with CreditCovers. We were attempting to put a "test" deal through for .25 million units with one of the top banks in the world -- and VISA stepped in saying they didn't approve of our product.
Of course they don't! We are like the TIVO of the banking industry. But instead of trying to work with us, they choose to remain an obstacle. We have since gone one however to work with other cool banks and credit unions, and have even had companies come to us who originally wanted to work with VISA for custom cards, but were turned away because their brand was too "edgey".
Passion Parties -- an incredible Las Vegas based company, originally came to us because VISA has blocked their efforts to getting a custom branded creditcard. We became a perfect alternative, were priced less, and were easily deployable. Last count, Passion Parties was on their 3rd re-order in the last 12 months. They are providing the custom skins as a way to build brand awareness with potetnial clients, and to build the team they already have by reenforcing the brand every day to the card users.
To be fair, we've yet to speak with Mastercard, and are hopefull they will be a bit more open minded and embrace, rather than run from, opportunity.
