Today, MasterCard and Visa have launched initiatives to tighten up security for their credit card transactions. In accordance, they have urged retailers as well as banks in the United States to adapt to new technology set to come out by 2015. According to them, the new technology is set to change the way their cards work. It would better the means of paying with plastic. This move is made to reality by the more recent cybercrimes or breaches that happened more recently like the one that occurred at Target’s consumer database last year. The said occurrence hacked more than 40 million debit and credit card holders’ records. For more regarding this post, go to the source.
Source: Business World Online
