President is signing an Executive Order
Today, the President is signing a new Executive Order directing the government to lead by example in securing transactions and sensitive data.
While there is no silver bullet to guarantee data security, the President is signing an Executive Order to implement enhanced security measures, including securing credit, debit, and other payment cards with microchips in lieu of basic magnetic strips, and PINs, such as those standard on consumer ATM cards.
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He is calling on all stakeholders to join the Administration and a number of major corporations in driving the economy toward more secure standards to safeguard consumer finances and reduce their chances of becoming victims of identity theft — America’s fastest-growing crime.
American Express: In January 2015, American Express will launch a $10 million program to assist small business customers in upgrading their point of sale terminals.
Home Depot: In addition to transitioning 85,000 point of sale terminals to support chip and PIN in stores, Home Depot has completed a major new payment security project that provides enhanced encryption of payment data at point of sale in the company’s U.S. stores.
Target: As of this month, Target has completed installation of chip and PIN readers in all its 1,801 stores. Starting in early 2015, stores will begin accepting all chip-enabled cards and reissuing more than 20 million Target-brand chip and PIN enabled credit and debit cards.
Visa: Visa will invest more than $20 million to educate consumers and merchants on chip and other secure technologies, while also sending experts to 20 cities in a national public service campaign.
Walgreens: As of today, Walgreens has chip and PIN readers in all its 8,200 stores, and starting in early 2015, stores will begin accepting cards with these upgraded features.
Walmart: By November 1, 2014, all of the nearly 5,000 Walmart and Sam’s Club U.S. stores will have activated chip and PIN readers.
The Continued Need for Congress to Act on Data Breach and Cybersecurity Legislation: While President Obama and his Administration continue to take every possible step to secure our transactions and information, it remains clear that American businesses and consumers demand Congressional action.
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Microchip ID Card for all Americans!
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SOURCE :
http://www.whitehouse.gov/the-press-o…
http://www.creditcards.com/credit-car…