Target to reissue cards as MasterCard chip-and-pin

[14Fiesta]

http://www.usatoday.com/story/money/business/2014/04/29/target-mastercard-emv-partnership/8453783/

Quote from the article:

"The retailer's REDcard portfolio includes a Target-branded debit card, credit card, and a co-branded credit card with Visa that the company stopped issuing in 2010. All three will be reissued with MasterCard's chip-and-pin technology.

Cards with chip-and-pin technology are considered more secure than the magnetic stripe cards most of us use now because they are embedded with a microchip that generates a different, single-use code to process every transaction you make. That means the card data is practically impossible to counterfeit, because even if the data is hacked, it can't be used again."

I see more and more people are starting to issue and accept chip cards. I find it surprising that Target is also going to use chip+pin and not chip+signature.

[milkshakes]

i find it both awesome and sad that Target is beating all the the major banks to a legitimate chip&pin

[pizzadude]

So these still come with a magnetic strip, in addition to the pin technology?  Obviously all Target stores will have the pin readers but using the Target credit card elsewhere will require a swipe I guess.

[KublaKhan]

Yeah, the Target card was added to my app spree after reading one of these articles (That and I shop there a fair amount). Denied though! When the grass is greener in the garden I'll give in another go. I want a chip and pin in my wallet for travels

[milkshakes]

id imagine that all pin+chip cards will still have a swipe.

the primary reason for issuers to provide pin+chip is to shift security liability to the merchants; not retaining a magnetic strip will just lead to minimized card usage

[Anonymous]

Sounds like a plan. Now that the horse is out of the barn.

[blondy250]

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@milkshakes wrote:

i find it both awesome and sad that Target is beating all the the major banks to a legitimate chip&pin

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Target sales have fallen 46% since the security breach, that's the ONLY reason there making any change.

[14Fiesta]

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@blondy250 wrote:

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@milkshakes wrote:

i find it both awesome and sad that Target is beating all the the major banks to a legitimate chip&pin

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Target sales have fallen 46% since the security breach, that's the ONLY reason there making any change.

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Even if that is the reason that they are doing this, I still think it benefits everyone. They will be setting a precedent for all of the other store cards to follow. Their PR team will most likely use the security of Chip + Pin as a marketing strategy, which will create buzz around the topic and the consumers will look to others such as WalMart to follow the lead.

[DaveSignal]

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@14Fiesta wrote:

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@blondy250 wrote:

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@milkshakes wrote:

i find it both awesome and sad that Target is beating all the the major banks to a legitimate chip&pin

---

Target sales have fallen 46% since the security breach, that's the ONLY reason there making any change.

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Even if that is the reason that they are doing this, I still think it benefits everyone. They will be setting a precedent for all of the other store cards to follow. Their PR team will most likely use the security of Chip + Pin as a marketing strategy, which will create buzz around the topic and the consumers will look to others such as WalMart to follow the lead.

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I agree.  Ron1 posted about this new Target card last week.  It is great that Target is doing this and may help motivate the rest of the US to get to chip + pin faster.

[milkshakes]

i guess it makes a statement, but i don't think it's really gonna help if the majority of their sales still come from people who don't use the target chip+pin card and if the security breach comes from the side where data is already stored, not where it is captured.