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originally posted by: Klassified
This, along with the the other places that have been "hacked" this year sounds like a convenient way to scare everyone into the next nationwide "security countermeasure". Of course, it will be for our benefit, and protect our "privacy" as well as our finances. Because, you know, their only looking out for our best interests.
Europay, MasterCard, and Visa
The chip embedded on EMV cards creates a unique code for each transaction when the card is used, so stealing the card number is much more difficult for an attacker. In addition, EMV cards can require the customer to enter a PIN for each transaction, creating another level of security against fraud. EMV is not hack-proof, but it is considered far safer than the magnetic-stripe status quo