While few shoppers know Heartland by name, Wall Street remembers the company as the target of the largest payment system hacking attack to date. Over 130 million credit card numbers fell into the hands of identity thieves after Heartland's firewall was breached in 2008. Security experts noted that Heartland's manual process for resetting encryption details gave criminals a window through which they could eavesdrop on transactions.
The new system eliminates that weakness, while pushing merchants to the forefront of financial data security. However, the E3 upgrade comes at a price. Heartland's client companies must foot the bill for most of the new hardware required to operate the new platform. Heartland CEO Bob Carr told USA Today that the upfront investment would pay off by reducing labor costs associated with manually updating security settings.
About the Author
Joe Taylor Jr. is an internal business consultant for a Fortune 500 company, who writes about finance, culture, and design. He holds a Bachelor of Science in Communications from Ithaca College.