Target Boosts Card Security After Data Breach


0  Updated at 12:57 pm, April 30th, 2014 By: ABC Digital
Share This Story

Target(NEW YORK) — After being hit by a colossal data breach during the peak holiday shopping season, Target will introduce more secure chip-and-PIN technology for its credit and debit cards by early next year.

The technology is widely used in Europe, but U.S. banks and retailers have been reluctant to introduce more secure cards because of the expense.

In an attempt to re-establish its reputation as a financially safe place to shop, Target has committed $100 million on new technology. Upgraded cash registers are being installed this year in all Target stores.

“Establishing a clear path forward for Target following the data breach has been my top priority,” CEO Gregg Steinhafel said in a statement. “I believe Target has a tremendous opportunity to take the lessons learned from this incident and enhance our overall approach to data security and information technology.”

Bob DeRodes, a former tech adviser at several federal government departments, will take over next week as Target’s chief information officer.

Copyright 2014 ABC News Radio

Stories You May Be Interested In:

Facebook is coming to a TV near you

14 Feb 2017

Seth Fiegerman, CNN

Local processing plant suffers $100,000 in damages

21 Feb 2017

Natalia Hepworth,

Good Question: Could you get paid to become a drug informant?

22 Feb 2017

Robert Patten,