Some US credit cards move to 'chip and PIN' by next year
In a move to increase data security of payments, MasterCard and Visa are moving to chip-and-PIN technology by 2013. While this move may make customers more safe, businesses cannot forget about their own brands of credit and debit card security and should still be using SSL certificates and other code signing digital certificates to stay safe.
"As any recent traveler to Europe knows, the continent is increasingly moving to the so-called 'chip and PIN' technology, where consumers slide in a credit card with an embedded security chip inside, then enter a four-digit PIN," according to Mark Hachman on PC Mag. "Putting U.S. credit-card payment technology onto the same technological footing as other regions will mean fewer headaches for overseas travelers."
Chris McWilton, president of U.S. markets for MasterCard, said they are trying to move past a plastic world and more into a place where the reality is that customers pay and shop on devices and electronically. They are hoping this will drive future innovation and help customers stay safe online, he told PC Mag.
PCI compliance will still need to be followed by businesses even with this new technology, as hackers and other scammers still update their technology and it isn't known when they could best this innovation.