Payments experts assure Senate that swipe-and-sign cards will disappear in 2015

Tagged: Chip-and-PIN, Mastercard, Senate, Target, Visa, Technology
Source: Ars Technica - Read the full article
Posted: 23 weeks 4 days ago

"In 2012, MasterCard and Visa decided on a timeline, setting October 2015 as the deadline for the switch away from swipe-and-sign cards, which are notoriously easy to gather information from."

”Chip-and-PIN makes it much harder to copy a card when data is stolen,” a Symantec representative testified before the committee on Tuesday. “It also makes it harder to steal data in the first place due to encryption. It also makes physically stealing a credit card less useful, since you don’t have a PIN.”

 

Comments

Tivon
Tivon's picture
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Joined: 04/26/2002
Posts: 1874

Wish this would come right now and not in a year. Already ran into some fraud issues with my cards.

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