US retailer Target is advancing a $100m programme to speed-up the adoption of chip-enabled smart cards in stores by early 2015, chief financial officer John Mulligan has said.
Mulligan said, "Since the breach, we are accelerating our own $100 million investment to put chip-enabled technology in place. Our goal: implement this technology in our stores and on our proprietary REDcards by early 2015, more than six months ahead of our previous plan."
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According to Mulligan, the use of four-digit personal identification numbers to perform transactions would provide additional safety.
"To be frank, there is no consensus across the business community on the use of PINs in conjunction with chip-enabled cards.
"But Target supports the goal and will work toward adoption of the practice in our own stores and more widely," Mulligan added.
In the recent cyber attack that hit Target, up to 70m of its customers had their details stolen in December 2013, 30m more than was previously supposed.
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By GlobalDataThe thieves infiltrated the retail giant’s card swipe system in all 1,797 branches across the US.
