Computer Chip Credit Cards

We've, all, heard about hackers stealing information from various retailers. One retailer was Target, but other well known retailers were visited by hackers too.

Customers were advised to frequently check accounts, close accounts and get new accounts. Immediately, address purchases or charges you didn't make.

It was a rude awakening to retailers that more security is needed, because of the ease with which hackers accessed credit card information.

Bankers and credit card networks understood how serious the breach was.

Most credit cards, by October 2015, will be minus the magnetic stripe on back.

Computer chip credit cards will become available. The computer chip requires a pin number. Hence, the pin and chip cards are called EMV cards.

Target once explored the idea of placing computer chips in cards. The retailer decided against the idea. It was costly, and other retailers were using the magnetic stripe on their cards.

Some countries use computer chips in their cards.

Credit card fraud in Europe dropped in the area of thirty-five percent since using EMV cards, according to the Federal Reserve.