This post was also written by Timothy J. Nagle.
Last week, congressional leaders in Washington continued with their focus on the safety of the U.S. payments system in the aftermath of the massive retailer breaches at Target, Neiman Marcus and others. The House Committee on Financial Services held its session March 5, while the House Committee on Science, Space and Technology hearing was held March 6. The message coming out of the hearings was that the adoption of EMV cards, payment cards utilizing smart-chip technology instead of a magnetic stripe, is just one of many steps that need to be taken to secure the U.S. payments system.
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