“Following Target’s recent data breach, the retailer announced plans to speed up its transition to the chip-based payment standard called EMV, a move that could give mobile payments a boost.
The transition to EMV, which uses chip-based cards and requires special terminals and readers necessary for processing, has been slow in the United States compared to many other markets, where it is already commonplace. However, because EMV promises enhanced security attributes over magnetic stripe cards, some U.S. retailers have new found enthusiasm for installing the necessary hardware, with expectations that many will also install the contactless readers needed for NFC-based mobile payments at the same time.’
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