is a credit card
processing company. In June 2005, the fact that 40 million credit cards had been stolen from CardSystems was discovered. This led to the discoveries that CardSystems had been keeping data that it was contractually obligated to delete, and that its own network was vulnerable to infiltration by hackers. Visa
and American Express
subsequently dropped it as a credit card processing company. CardSystems was acquired by Pay By Touch
. The buyout was completed on December 9, 2005.