Will Stripe and Swipe Be Replaced by Pin and Chip?
In todayâs world, it appears that thieves are finding it increasingly easy to hack into a computer system and steal credit/debit card data. Using this information, the thief can create a counterfeit magnetic stripe card and sign for transactions, stealing your money, your identity, and your peace of mind.
National Retail Federation and the retailers they represent have been pushing for cards that encrypt data on an embedded micro-chip and employ a secret Personal Identification Number (PIN). This would eliminate the need for a signature, which is often little more than a scrawl that is illegible.
- This change would improve security in two ways:
- Thieves would be blocked from using the counterfeit card they have created because they wonât know the PIN to activate it.
- A chip card is almost impossible to duplicate.
NCR is currently working on implementing this change, hopefully by the end of this year. In the meantime, talk to us at CCS about your security concerns. We can help you with measures that will help you use current technology for the best security available at the present time.
Our telephone number is 800/425-672-4806 or you can email us for more information.