With data vulnerable, retailers look for tougher security

Thanksgiving Day holiday shoppers enter the Target retail store in ChicagoBy Ross Kerber and Phil Wahba BOSTON/NEW YORK (Reuters) – A top retail trade group executive on Sunday called for tougher security standards that could mean more spending for the industry, its banks and business partners after a series of data breaches at major merchants. Stores and card processing companies have reported a steady stream of security breaches for years without a major backlash from consumers, such as those disclosed by TJX Cos in 2007 and by Heartland Payment Systems Inc in 2009. But the latest thefts – including attacks on Target Corp and Neiman Marcus – have involved a broad set of merchants and could mark a watershed moment for security standards as calls grow for changes in the protection of consumer information. One sign of the change is a new enthusiasm for payment cards that store customer information on computer chips and require users to type in personal identification numbers.



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Posted by on Jan 13 2014. Filed under TECHNOLOGY. You can follow any responses to this entry through the RSS 2.0. Responses are currently closed, but you can trackback from your own site.

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