Source: National Cyber Security – Produced By Gregory Evans
(USA TODAY) – Techies are calling the upcoming shift in how we will use our credit cards at the store something like “dip the chip.” It’s not a bad way of explaining things. Instead of swiping our plastic, we’ll be able to slide or dip our chip-equipped credit cards at chip-enabled terminals at the register. You might see the new way of doing things as soon as the next time you shop at Target or another big retailer. A unique one-time code is generated every time a card with a chip is used, and a one-time code is hard for crooks to duplicate to make fake credit cards, according to card experts. Chips aren’t entirely new. They’ve long been used in Canada and all across Europe. But the U.S. has been stuck in the swipe-and-sign mode for years. Beginning in October, though, some rules will change for merchants that will drive a shift into chip technology. A week or so ago, my credit card issuer sent me a notice saying that I should be receiving a new EMV Chip Technology card for my MasterCard by October. Other consumers already have chip cards in hand. Bank of America, for example, has been adding chip technology to its consumer credit cards since mid-2012 and […]
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