In the months since a massive, multi-month data left tens of millions of customer's data exposed, Target has been leading the industry in adopting more stringent anti-fraud mechanisms, including an accelerated adoption of chip-and-PIN (EMV) technology for its store-branded credit cards.
Though Europe has been on the chip-and-pin standard for over 20 years, adoption in the U.S. was slower, stalled by merchant who didn't want to invest in expensive technology upgrades, and card issuers who didn't want to make theri products any harder than necessary for customers to use.
The move, however, is pushing forward. Walmart Inc. as already implemented a chip-and-signature system which requires users first swipe their card, then insert it into a separate chip reader to verify the card.
“The Target decisions have set the bar for the entire industry,”analyst Scott Valentin told The Wall Street Journal.
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