February 04, 2014

Lawmakers want secure payments sooner

Senators are pushing credit card companies to accelerate efforts to make payment methods more secure.

During a Senate Judiciary Committee hearing on data breaches Tuesday, senators questioned the efforts of MasterCard and Visa to incorporate chip technology into their credit cards.

MasterCard and Visa plan for these “chip card” systems to be widespread by October 2015, Sen. Al Franken (D-Minn.) said. “I wish that could be hurried.”

Sen. Mazie Hirono (D-Hawaii) asked witnesses whether Congress should write legislation to encourage MasterCard and Visa to implement this newer, more secure technology more quickly.

Read the entire piece at: http://thehill.com/blogs/hillicon-valley/technology/197425-lawmakers-want-secure-payments-sooner

By:  Kate Tummarello
Source: The Hill