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Chip and PIN cards gaining steam in US after year of data breaches

The US lagged behind Europe and Asia, but it looks like chip and PIN credit cards are finally becoming more common place
By: Michael Hatamoto | Hacking & Security News | Posted: Nov 29, 2014 5:20 pm

The use of credit cards with magnetic chips in the United States is slowly but surely being replaced by new chip and PIN cards that are more secure. However, retailers need to make sure their employees are properly trained in how to accept payments with chip and PIN cards, especially with some retailers replacing their own magnetic cards with the newer security.

 

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Target, which suffered a massive breach at the end of 2013, is rolling out support for chip and PIN cards - and other retailers that suffered data breaches are expected to follow suit. But customers are finding checkout to be a tedious process when cashiers are unsure how to handle this new this payment process, however, the growing pains should prove to be worth it.

 

The use of chip and PIN technology will likely begin to transition from large retailers down to smaller businesses, as they discover its added security benefits. "It's about the peace of mind for the consumer, right?" said Shane Cowger, Arvest Bank sales manager, in a statement. "More consumers feel comfortable coming into your store, hopefully the more money they're going to spend in return."

NEWS SOURCES:Eweek.com, Paymentlawadvisor.com, Ozarksfirst.com

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