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Click here to find out moreWith new technology behind how credit card transactions are processed and protected, accepting credit cards carries new data security risks and potential legal liabilities. In addition to the normal repercussions of a data security breach (reputation damage, the risk of class action litigation, and the risk of a regulatory investigation), if a retailers credit card system is compromised, the retailer may be contractually liable to its payment processor, its merchant bank, and ultimately the payment card brands. Courtney Stout and David Zetoony discuss new payment processing technologies, their impact on data security, the risk implications for companies, and how in-house counsel can negotiate third party vendor contracts to minimize these risks.
