PayPal President David Marcus credit card information compromised, The leader of the online payments company revealed via Twitter that his credit card information had been stolen on a trip to the United Kingdom and he’d racked up a “ton” of fraudulent transactions on his account.Marcus noted that his credit card had EMV chip technology, a more secure system currently in use in Europe. But that didn't stop the data from being stolen and used for a "ton of fraudulent" transactions.
Beginning in October 2015, the US will become the last major market to shift to EMV, and retailers will replace the old swipe machines with a slot to enter a card and pin number.
A “skimmer” is a digital swiping device that can be attached to a legitimate point-of-sale machine where the hacker secretly uses his own hardware to steal debit or credit card information.
Marcus said via Twitter used his stolen data for a “ton of fraudulent” transactions. He also used the microblogging social network to tout PayPal Inc.’s security benefits, saying that if the merchant had instead accepted PayPal as a form of payment the breach would not have happened.
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