Obama Signs Initiative To Speed EMV Card Adoption

Read original story on: Ars Technica

Last Friday, President Obama signed an initiative to help speed the adoption of more secure credit cards in the US. The initiative, nicknamed “BuySecure,” will require credit card companies to produce EMV-standard cards with embedded chips that offer more security measures, instead of the magnetic stripe cards that are common today. With this initiative in place, many national brands — especially the ones suffered credit card breaches like Home Depot and Target — pledged to start using chip-and-pin terminals for EMV cards by January 2015. It will be interesting to see how the more secure cards stack up against the competing NFC-based mobile payment approach led by Apple Pay.