Retailers continue push for PIN use on new credit cards

Close-up of a credit card's security chip.

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.

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