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Calls for Banks/Retailers to Adopt Chip and PIN Card System

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With so many retail stores getting their systems hacked and customer information stolen, a solution may be implemented.. ABC News reports following congressional hearings on data breaches at stores, there are now calls for banks and retailers to adopt the chip and pin card system used in Europe. National Retail Federation Senior Vice President and General Counsel, Mallory Duncan, says the chip sends encrypted information to the bank and the users must enter a secret pin at check out. Duncan says they hope consumers will encourage their financial institutions to move to a pin and chip system as well. They're also pushing for a federal data security law to offer uniform protection to consumers.


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