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Retail group rips chip-card conversion expense, pushes for PIN security

Discussion in 'CSO' started by RSS, Sep 30, 2015.

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    RSS New Member Member

    The top attorney for the powerful National Retail Federation blasted banks and credit card companies on Tuesday for problems and costs with the massive ongoing U.S. rollout of computer chip cards and chip card readers.

    Mallory Duncan, general counsel for the NRF, said computer chip cards will initially require customers to provide a signature, instead of a distinct PIN (personal identification number), which won't eliminate online and phone fraud with a stolen or lost chip card.

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