Credit cards will be upgraded with latest technologies and will be made safe enough to combat frauds, according to industry security experts.
The recent theft of 40 million credit and debit card numbers from Target stores have forced the industry to switch to smart cards.
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Datacard, a smart card maker, senior vice president Russell St. John was quoted by KSL.com as saying that in the security arena, they are always going to be chasing the bad guys.
St. John said, "The beauty of the smart card is they have a better encryption technology right onto your credit card. So you’ve seen a wave of adoption across Europe and the world happening. Now it’s coming to the U.S."
Unlike magnetic stripes on credit cards, the circuit board-like chip embedded on the smart card is highly secured and cannot be tampered with.
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By GlobalData
