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May 30, 2014

Walmart may ask shoppers to punch security codes for credit card purchases

US retail giant Walmart is reportedly planning to make it mandatory for shoppers to punch in their three-digit credit card security codes if total bill amount crosses a certain limit.

By Verdict Staff

US retail giant Walmart is reportedly planning to make it mandatory for shoppers to punch in their three-digit credit card security codes if total bill amount crosses a certain limit.

The move is part of the company’s initiative to boost its credit card security, lowcards.com has reported.

By asking this additional information, the retailer aims to prevent identity thieves from using stolen credit card numbers.

The move is believed to have been prompted by the recent data breaches at Target, Neiman Marcus, Sally Beauty and Michaels.

To counter this problem, other financial organizations including banks and card issuing companies are gradually transitioning to chip and PIN cards.

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