The 'T.J. Maxx hack', where the credit card information for over 45.7 million customers was compromised by hackers, may be bad for card holders, but it has been most costly for online merchants, according to business payment service provider, DalPay Internet Billing.

Dalvik, Iceland (PRWEB) May 2, 2007 -- The 'T.J. Maxx hack', where the credit card information for over 45.7 million customers was compromised by hackers, may be bad for card holders, but it has been most costly for online merchants.


"As people experienced in selling online know, the credit card associations and most payment providers including major banks give no protection to merchants selling online," said Bjorn Snorrason, Director of DalPay Internet Billing.

"A transaction marked as accepted by a payment gateway, with proof of goods shipped by a merchant in good faith, does not in fact mean that the merchant is protected if the credit card is later found out to have been stolen. In fact the merchant will be liable for chargeback fines as well as return of the money from the credit card sale, and for the cost of the merchandise stolen from them," continued Snorrason.

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