If you recall,Target Customers' Credit Card Info was compromised. More info at the link below.
(http://levelnineatwork.blogspot.com/2014/01/40-mil-accounts-of-target-shoppers.html)
Its surprising that the most advance country in the world still utilises old magnetic strips for transactions.
The Wall Street Journal reports that "beginning later next year, you will stop signing those credit card receipts. Instead, you will insert your card into a slot and enter a PIN number, just like people do in much of the rest of the world."
Source: http://blogs.wsj.com/
DELAYING FACTORS?
Business Insiders reported that "as other markets migrated to EMV and became more secure, fraudsters migrated their activity to markets with less security. We saw fraudsters move over to the US market – they are looking for the path of least resistance."
Source: http://www.businessinsider.my/
Credit card frauds were more prevalent back everywhere except the states. Some how it acted as catalyst to drive other countries to adopt better security featuresCredit card frauds were more prevalent back everywhere except the states. Some how it acted as catalyst to drive other countries to adopt better security features
Source: http://www.businessinsider.my/
Credit card frauds were more prevalent back everywhere except the states. Some how it acted as catalyst to drive other countries to adopt better security featuresCredit card frauds were more prevalent back everywhere except the states. Some how it acted as catalyst to drive other countries to adopt better security features
Another feature on magnetic swipes as reported by Business Insider that "the card and the terminal can authorize a transaction independent of communication with the bank’s systems. In some other markets they struggled with robust telephony networks, so this offline capacity was attractive."
Source: http://www.businessinsider.my/
The Magnetic swipe system works offline and this made made companies with branches in remote areas relied heavily on to the system ( Similar to AS400's low bandwidth usage)
The Magnetic swipe system works offline and this made made companies with branches in remote areas relied heavily on to the system ( Similar to AS400's low bandwidth usage)
