Page 2 - Chip Cards News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Signature. >> it's the end of an era. one that few people seem to notice. beginning this month, signatures will no longer be required when using a security chip enabled credit card. phasing out signatures gradually began two years ago when chip technology was introduced. the use of chip cards significantly reduced fraud because they are difficult or counterfeit. many merchants and the credit card industry say signature authentication, which has been used for decades, increased waiting time of the cash register and did little to prevent unauthorized transactions. >> it is somewhat of a traditio...

These people -- these people are saying they're not going out and shopping. they're thinking oh, i'll get the free shipping. come monday, shipping is going up 15%. so those people who have been waiting, they have to spend more -- more of a premium to get their presents delivered on time. if they wait until the 20th of december, it's going to go up even more. so monday, they're expected to do about $2 billion on sales online. but retail may not. people like you and me are going into the stores, 79% of those people are going to stores versus the 63% based on this research. fyi, you'll be dipping...

Most common fraud and 2/3 of the card fraud in store, and the chip cards deployed will help us to have a significant increase to take it on headon. >> thank you, jason. i do want to get to the breaking weather, and governor chris christie signed an emergency declaration with the possibility of two storms on the horizon. we have hurricane joaquin, and christie says he will order e evacuations if necessary, and he is telling people not to panic, and as joaquin is make its way to the east coast, we are reminded of the dangers and the lasting effects that the storms can bring. the nation just ma...

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 doesn't have the chip readers yet. but for the foreseeable future as we take care of this upgrade and attack the cyber crime that we're really trying to push out with these new chip cards, these cards will continue to work everywhere you shop. >> and that's at the heart of this. the cyber crime industry is...

And the normal signals and market triggers are actually back in force. the problem is, though, that precisely because the system has been on life support for such a long time, it's kind of got addicted to it and the worry is that when you start to change the environment, people begin to panic and essentially say we can't cope and you may have new market volatility and jitters. >> let me briefly ask you about the change in consumer credit cards with chips that are supposed to protect all of us against hacking and against credit card fraud, but the banks and the credit card companies are not rea...