New York lawmakers reportedly plan to include smart chips in all credit cards the state issues.
The proposal, in a state Senate bill, would help improve their ability to ward off counterfeit fraud, something today’s magnetic-stripe cards fail to do.
“Even with your card in your possession, your account can be hacked and false charges made,” New York State Sen. Martin Golden said in describing the current system to BETABEAT.
MPD CEO Karen Webster believes a shift in card technology to EMV may be a waste of money. Read why.
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