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The new cards will be fitted with a more secure chip-and-pin technology instead of relying on the current magnetic stripe system.
The new cards will use a more secure chip-and-PIN technology instead of relying on the current magnetic stripe system.
That's because some stores have outfitted themselves with payment terminals that use your credit card's new, more secure chip technology.
Consumers still have not been provided the more secure chip and PIN cards.
The real reasons banks do not want to issue the more secure chip and PIN technology is their bottom-line.
Payleven also makes a smaller magnetic swipe dongle for taking mobile payments but taxi drivers have opted to kick the tyres of the (presumably more secure) Chip and PIN system.
For months now, consumer advocates and retailers across the country have been urging card issuers and banks to issue the more secure chip and PIN technology to protect consumers.
For example, Target is now set up for the use of new, more secure chip credit cards, USA Today reports.
"While Aldi payment terminals in the United States are capable of accepting more secure chip-based card transactions," writes security researcher Brian Krebs.
The company has since taken a number of steps to secure their credit card processing and data security, including a recent announcement to switch its Target branded debit and credit cards to the more secure "chip-and-pin" cards, which are the standard in Europe and only now beginning to roll out here in the U.S.
An essential defense: partitioning off payment functions with software or, better yet, more secure chips.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com