Payments Security Task Force says estimates are based on acquirers that represent 80% of U.S. purchase volume.
National Retail Federation encouraged by campaign for safer payment methods from retailers.
President launches initiative to motivate companies to implement safer payment methods.
Visa USA has made some recommendations for how to implement the shift from magnetic stripe payment cards to those which use a chip for authentication. And a Visa executive predicted the technology will have become a standard payment method by 2015.
Now is the perfect time to encourage members to use PIN transactions whenever possible.
The British branch of Equifax, one of the three large credit bureaus in the U.S., has warned that, in general, consumers do not have enough passwords to critical accounts and do not change the ones they have often enough.