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Target to Issue MasterCard chip-and-pin
serf
Member Posts: 9,217 ✭✭✭✭
This is for your safety and security to make sure all purchases can be tracked for any and all investigations also! [:D]
serf
http://www.usatoday.com/story/money/business/2014/04/29/target-mastercard-emv-partnership/8453783/
Cards with chip-and-pin technology are considered more secure than the magnetic stripe cards most of us use now because they are embedded with a microchip that generates a different, single-use code to process every transaction you make. That means the card data is practically impossible to counterfeit, because even if the data is hacked, it can't be used again.
serf
http://www.usatoday.com/story/money/business/2014/04/29/target-mastercard-emv-partnership/8453783/
Cards with chip-and-pin technology are considered more secure than the magnetic stripe cards most of us use now because they are embedded with a microchip that generates a different, single-use code to process every transaction you make. That means the card data is practically impossible to counterfeit, because even if the data is hacked, it can't be used again.
Comments
The technology has been used in Europe for many years, but the banks hoped to avoid the expense of issuing them in the US. Last year I tried to get an RFID MasterCard from Capitol One for a European trip last year, but they refused; they said that any MC merchant in Western Europe had to accept my mag strip card.
Target is the first to offer them here, & it was a smart move. I'm sure that other issuers will follow.
Neal