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The way that we deal with money has changed greatly in recent years. In the old days, everything was done with cash or 'paper money'. Later, banks went to checking and then quickly into the newest mode of finances that has become a way of life: credit. Credit companies such as MasterCard have changed the way companies and individuals do business. With credit cards, there are none of the problems, inconveniences and risks associated with using cash in transactions. Credit cards are easy and effective, and this is why so many Americans do most of their shopping with them. MasterCard and the other large merchandisers of credit cards have become powerful and also responsible, and now the limits of their responsibility are being tested.

In past months, hackers have been finding ways to compromise financial information using information technology. Somehow, online infiltrators 'crept' into a database and discovered the personal information of as many as 13 million MasterCard cardholders. Other attacks have threatened other credit companies as well. MasterCard has claimed that CardSystems, a third-party merchandiser, is responsible for not having guarded the information that was compromised. The database of CardSystems was where the breach occurred.

In answer to consumer concerns, MasterCard has mentioned the ways that cardholders are not liable for problems arising from the event. Cardholders should promptly report any instances of credit fraud on their personal accounts as always. The credit companies generally do not hold cardholders accountable for bad charges if they ae notified in time to stop payment or deal with the problem.

Now MasterCard has come out with a number of products that aim to cut down on credit fraud, idenitity theft, and all of the things that consumers are worried about because of the ways that credit cards and credit information have become vulnerable. One such product is Securecode, which deals with the way that credit works over the internet. Using products like SecureCode, a pc user can guard against the common types of theft that happen online.

Many hackers take credit card numbers from the net using 'infiltration' technology that goes through an open connection. Wireless systems are particularly vulnerable, although the process of encryption means that the numbers themselves would probably not be directly accessible. In any case, working with merchandisers and also using typical internet tools like firewalls and anti-virus programs means that conumers can decrease the chances of direct theft online. Someday, househols might be able to do online commerce without the fear of an accidental security breach. Until then, caution and discretion are key, and a frequent check of the card's status also helps.

Despite problems, companies like MasterCard continue to evolve and work with their customers to ensure that the credit system will continue to play its vital role. With consumer confidence, the familiar MasterCard name will be with us for many years to come.