Chip Readers News Today

Chip readers allow us to not have liability shift. >> i would imagine you are an established business but for somebody entering into the restaurant industry and cant get their hands on these it would be a barrier to entry. >> obviously. it is how you take the order, send it to the kitchen and payroll. >> dana, we reached out to toast, the maker of this product in particular and you will see them at a lot of restaurants. we havent heard back from them how the chip shortage is impacting their prod...

Companies will stop requiring to you to sign your name when using a credit card. the old security measure has been around for decades. who really sits there and signs out their name. the recent move to chip readers has basically made credit card fraud much more difficult. david lee miller explains. >> do you have a photo i.d.? >> reporter: its the end of an era but one that few people notice. beginning this month signatures will no longer be required when using a chip enabled credit cards. this ...

Beginning this month credit card companies will stop requiring to you to sign your name when using a credit card. the old security measure has been around for decades. who really sits there and signs out their name. the recent move to chip readers has basically made credit card fraud much more difficult. david lee miller explains. >> do you have a photo i.d.? >> reporter: its the end of an era but one that few people notice. beginning this month signatures will no longer be required when using a...

Who were always there with her and for her. the half sister, who has had no contact with markle for years, promising more in an upcoming tell-all. a kensington palace spokesperson declining to comment. and no signature required. a sign of the times for three major credit card companies. american express, mastercard and discover all announcing that starting in april, they will no longer require your signature to complete a purchase. the move meant to make shopping faster and more convenient. th...

Replaced. and 8 million merchants need to upgrade their terminals to accept those chip cards. the good news is because this is the start of the migration, when you do get your new chip card in the mail, it will still have the magnetic stripe on the back just in case you go to a merchant that doesnt have the chip readers yet. but for the foreseeable future as we take care of this upgrade and attack the cyber crime that were really trying to push out with these new chip cards, these cards will con...

Cloning, where someone takes stolen account numbers and shops at a store. thats a good step. we have a huge chicken and egg problem. say target spends that $100 million to put in chip readers, who wants to be the first one to drop all that coin to update these systems? banks have to do it first, retailers have to do it first. youre going to look like a sucker if everybody doesnt do it. >> luke, what does the senate judiciary committee want to hear? they have a lot of folks heading up there to gi...

Flanagan. clay, lets start start with this target hack. how do you pull this off? how do you get -- i genuinely dont understand. how do you get 1,800 card readers across the country to start feeding you their data? >> this is a really sophisticated operation. ive been studying the history of this for some time now, and the way that they did this is pretty significant. nobody knows quite sure how they did it. i mean, was it hardware, was it software? on the chip readers? what we do know is they o...

Government, and jessica flanagan. clay, lets start with this target hack. how do you pull this off? how do you get -- i genuinely dont understand. how do you get 1,800 card readers across the country to start feeding you their data? >> this is a really sophisticated operation. ive been studying the history of this for some time now, and the way that they did this is pretty significant. nobody knows quite sure how they did it. i mean, was it hardware, was it software? on the chip readers? what we...

Pretty significant. nobody knows quite sure how they did it. i mean, was it hardware, was it software? on the chip readers? what we do know is they operated sort of out of band, which means that they were able to get more data off of the credit card than even target itself was storing. so that means that they had at least some form of access to the physical card readers inside of the store. whether they had physical access or software access, we dont know yet. the other part of this is, these cr...

Latest updates on this topic.