Banks to Finally Install Chips Into Credit Cards

Episode 1056 (56:44)

Credit Card

After the massive data breach at Target, Banks are finally planning to use the Chip and Pin technology, and will be done by October 2015. You'll be using your credit card, which will then ask you for a PIN. Leo says it's about time. While it won't completely prevent hackers from stealing credit cards, it will make it much harder. How will it affect online purchases? Leo says not much. Users will probably have to give some supporting information, but that's about it.

The US is finally switching over from insecure credit card signatures to PINs (TheVerge)…
http://www.theverge.com/2014/2/10/5397442/americans-are-finally-switching-over-to-chip-and-pin-credit-cards