Retailers continue push for PIN use on new credit cards

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Dive Brief:

  • The Oct. 1 deadline for retailers to be ready to process new, more secure EMV chip-enabled cards has come and gone, but many retailers are pushing for further modification to point-of-sales systems that would allow customers to use personal identification numbers when they check out.
  • The yet more secure addition of PINs, which is standard in Europe and elsewhere, is considered ideal by cyber-security experts, but banks have resisted their use because they say they don’t add that much more protection, and consumers won’t want the hassle.
  • Nevertheless, Target and Wal-Mart have decided to unilaterally have their own store credit cards PIN-enabled, as have some smaller banks, while other retailers, like Macy’s, are sticking with chip and signature only. Yet others, like J.C. Penney, haven’t begun processing the new cards at all.

For complete article on RetailDive.com, click here.