Apr 23, 2015

Will Chip-and-Signature Protect Consumers?

Walmart’s senior vice president and assistant treasurer, Mike Cook, called the rollout of chip-and-signature cards “worthless”. Cook believes that the U.S. should have backed a chip-and-PIN system that would almost guarantee the elimination of consumer credit card fraud. At the Electronic Transaction Association’s Transact conference in San Francisco, the executive blasted the U.S. treasury and financial institutions for not going...