tag:blogger.com,1999:blog-943061409344261913.post2955128245556670565..comments2016-05-01T23:46:42.255-04:00Comments on IS 251 @ Loyola University in Maryland: Target's New Credit ChipUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-943061409344261913.post-40459362398481956132015-09-23T12:18:41.784-04:002015-09-23T12:18:41.784-04:00While I see that the new technology developed in t... While I see that the new technology developed in these credit cards can be very beneficial, I do not think they have as much significance in the United States as it appears. Because this new technology requires a specific reader that cost Target nearly $100 million dollars to implement, many companies are hesitant to adopt it. This is understandable because a small boutique that has not experienced an overwhelming amount of credit card fraud, such as Target, does not have an incentive to pay a lot of money to upgrade their credit card machines. Consequently, the credit card user is forced to use the magnetic strip, or the original problem that drove the invention of this new technology (Schulz). Therefore, until these new machines are widely adopted across the United States, even at smaller “mom and pop” stores, these new credit cards cannot be used to their full potential. <br /><br /> Also, with online shopping increasing in popularity, people will undoubtedly continue to use their credit cards on the web. Because these new chips have made it hard to commit fraud in a traditional store setting, almost all countries that have adopted this new technology have seen a spike in online fraud. The credit card number and expiration date of a card with an EVM chip can still be stolen online (Mecia). Resultantly, the fraud problem that occurs in-store might have been eased but it has been at the expense of online card users. With online shopping becoming more and more popular, this raises a serious concern. <br /><br />Mecia, Tony. "Online Fraud May Surge after EMV Chip Card Rollout." <br /> CreditCardscom News. N.p., 9 Nov. 2014. Web. 23 Sept. 2015.<br /><br />Schulz, Matt. "The Unfortunate Truth About Your New Chip Credit Card." The <br /> Huffington Post. TheHuffingtonPost.com, 8 Sept. 2014. Web. 23 Sept. 2015.<br /><br />Livia Matuszakhttps://www.blogger.com/profile/02678844731473103797noreply@blogger.com