Obama Order Pressures Retailers To Adopt 'Chip And PIN'
Law360, New York (October 22, 2014, 3:13 PM EDT) -- U.S. retailers are under more pressure to update payment systems that accept "chip and PIN" cards after President Barack Obama signed an order making the technology the norm for the federal government, but attorneys say moving to the technology won't shield merchants from all future threats to customer data.
The president's order requires all debit and credit cards issued by the federal government come equipped with a microchip and be secured by a personal identification number by the start of 2015. Payment card terminals at federal agencies will also be upgraded to accept chip-and-PIN enabled debit and credit cards.
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