Target Breach Spurs Retail Rush to Accept Tougher Credit Cards
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After last year’s massive security breaches at Target Corp. and Neiman Marcus Group LLC, data-security professionals urged U.S. retailers to upgrade their credit and debit card technology to reduce fraud.
Companies have been slow to embrace the more secure payment systems that have been widely used in Europe and Asia for years, mostly because of the expense and a lack of synchronization among retailers, credit card providers, and banks, Bloomberg Businessweek reports in its April 14 edition.