Pres. Obama wants increased debit, credit card security after breaches

Following several high-profile data breaches, Pres. Obama wants to increase debit and credit card security to help better protect U.S. consumers.

Published Fri, Oct 17 2014 4:30 PM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

A growing number of U.S. retailers are being victimized by data breaches, leading to millions of consumers at risk of identity theft and fraud - and now President Obama has stepped in, signing an executive order to enforce increased payment security measures. The federal government will now use chip-and-PIN technology for all government credit cards, providing an additional layer of security for all agencies that handle monetary payments.

Pres. Obama wants increased debit, credit card security after breaches | TweakTown.com

"We applaud the administration for taking proactive and positive steps by adopting PIN and chip technology for government-issued debit and credit cards, among other things," said Matthew Shay, National Retail Foundation (NRF) CEO, in a statement. "From insisting our PIN and chip cards to facilitating greater information sharing among retailers and other sectors, we are committed to finding the right answers with the latest technologies to stop these cyber thieves."

Moving forward, the President also wants additional transparency when companies suffer a data breach and consumers are impacted. Meanwhile, WalMart, Home Depot, Target, Walgreens, and other retailers plan to use chip-and-PIN point-of-sale (POS) terminals in their retail stores, starting in early 2015.

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

Related Tags

Newsletter Subscription

Latest News

View More News

Latest Reviews

View More Reviews

Latest Articles

View More Articles