1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Walmart exec predicts holiday shopping season ‘anarchy’ due to chip credit cards

Discussion in 'Network World' started by RSS, Oct 28, 2015.

  1. RSS

    RSS New Member Member

    Just what we don’t need…‘anarchy’ during the holiday shopping season. But a top payment executive at Walmart claimed that is what could happen due to the timing of forcing merchants to have chip-an-pin credit card payment terminals.

    U.S. banks replaced hundreds of millions of credit and debit cards that rely on magnetic strips, which store data, with new cards that contain a small gold EMV microchip; the new cards are hyped as being much more secure, even though the cards have been hacked through man-in-the-middle attacks. French scientists also discovered how criminals altered stolen credit cards that were supposed to be protected by a security chip and a PIN code the crooks didn’t know.

    To read this article in full or to leave a comment, please click here

    Continue reading...

Share This Page