Global Payments is one of the world’s largest electronic transaction processing companies.  In March 2012, Global Payments acknowledged that a breach had compromised its payment network, exposing 1.5 million or more accounts.  Compromised credit card security information included card-verification value codes and card numbers.

On January 8, 2013, Global Payments filed its quarterly report with the Securities and Exchange Commission.  The report shows that Global Payment’s expenses associated with the breach have totaled $93.9 million, so far.  The report also notes that there will be more costs for the company due to fines and the results of current and possible future litigation.

Global Payments has stated that the expenditures were mainly on investments to its PCI compliance program.  In the filing, Global Payments stated that, “Our failure or a delay in returning to the list [or preferred PCI compliant service providers] could have a material adverse effect on our business, financial condition, results of operations and cash flows.”

The hospitality industry should evaluate its own payment card security measures, whether through Global Payments or some other third-party payment processing service, for payment card industry compliance.  Hoteliers may also want to consider front end investments in hospitality technology and vigorous PCI training to prevent the multi-million expenses associated with a data breach. One of the better approaches to ensuring PCI compliance for hoteliers is through a reliable PCI compliance program that includes custom learning solutions, such as PCI compliance training modules and similar training for hoteliers on best practices for using hospitality technology.