Home / Knowledge / News / Apparel/Garments / PIN vital on New credit & debit cards - NRF
PIN vital on New credit & debit cards - NRF
08
Mar '14
In response to announcement by Visa and MasterCard of the formation of a new cross-industry group focused on enhancing payment system security, The National Retail Federation Senior Vice President and General Counsel Mallory Duncan says, “We remain insistent that U.S. retailers’ customers be given the same protections as consumers in more than 80 countries who have both a chip and a PIN securing their credit and debit cards. 
 
“There is no single solution to the complex issue of criminal hacking and we know PIN and Chip is just a bridge on the long road to a safer payment system, but it is an important step in the right direction.
 
“We appreciate being involved in meetings with other stakeholders such as the one hosted by Visa and MasterCard last week. While we certainly agree that speed is of the essence, we don’t believe that is an obstacle to introducing PIN and Chip cards since the technology is well established and the cards are widely used around the globe.
 
“Easy-to-forge signatures are a virtually worthless form of authentication.Insisting on chip-and-signature cards is like installing an alarm on the front door of a home while leaving the back door wide open. It doesn't make sense when the technology exists to secure the entire house.”  
 
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. 

The National Retail Federation

Must ReadView All

Apparel/Garments | On 29th Sep 2016

Q1FY17 sales up 8% at sports goods retailer Nike

For the three months ended August 31, 2016, sales at sports goods...

Apparel/Garments | On 28th Sep 2016

CMAI inks MoU with Chinese textile trade body CCCT

Indian apex clothing association, the Clothing Manufacturers...

Textiles | On 28th Sep 2016

India sees largest gain on WEF’s Competitiveness Index

India has shown the largest gain made by any country on the World...

Interviews View All

Anvita Mehra
Confidential Couture

Claudia Kersten
Global Organic Textile Standard

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
September 2016

September 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search