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Target fast-tracks new credit card security following data breach

04
Feb
2014

Target says its accelerating a program that will update its retail stores with technology designed to thwart credit card fraud. In an op-ed in The Hill, Target chief financial officer John Mulligan says the company is moving up its goal to utilize chip-enabled smart cards, and now plans to have them in stores by early 2015, which is six months earlier than originally planned. Those cards encrypt point of sale data, rendering the credit card number less useful if stolen. Mulligan notes that the smart cards have not taken off in the US, but have resulted in lower card number theft in other countries, notably Canada and the United Kingdom.

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