- Reps from the National Retail Federation testified in front of a Congressional panel today on the issue of customer data security.
- The organization supports moving away from fraud-prone credit cards to PIN cards that include a microchip.
- Despite some overheard costs to make the broad transition, the NRF thinks the retail industry will benefit as costs tied to fraud are reduced. Just ask Target (TGT +0.5%).
- Payment giants MasterCard (MA +2.1%) and Visa (V +2%) support the adoption of chip-and-PIN cards, while the banking industry has been less supportive.
From other sites
at Zacks.com (Mar 19, 2015)
at WhoTrades.com (Mar 19, 2015)
Behind the Storefront: Target’s $10 million payout to consumers is tiny part of its data-breach liabilityat MarketWatch.com (Mar 19, 2015)
at MarketWatch.com (Mar 19, 2015)
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