Currents Generation Technology News Today

Dollars to crack the systems. the basic difference is the cards carry in our wallets today have a magnetic strip and that contains all the data about the consumer and thats the same thing as an eight-track tape from 1960s or 1970s 1970s and and is easy to copy, and the signatures all there is. in europe they have a card that has a microchip in the card that protects the bank and makes sure the bank knows that is our card, not a counterfeit card, and then as an added measure to protect consumers,...

With the europeans. >> good afternoon. what were saying is -- what we told congress earlier this weeks what we have been saying since this has been in the news, but for years and that is that protecting the consumer data and their private information is our most important priority. secondly, that all of the stakeholders have to play a role. so the retailers, the card issuers, the banks, financial institutions, and, third, at a minimum, we ought to move forward on this technology that we know exi...

Generation or currents generation technology. we need to look beyond thought but we need to do pin and chip in the short term. >> amazing. people will complain about having to punch in a number, theyll argue its not worth it. >> thats the conversation were having, its going to cost money and retailers are going continue vest billions in new point of sales -- >> going to cost a lot of money if we dont. >> thats right. and card issuers will invest in the card but its a shared responsibility and an...