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August 9, 2016

Security Flaw in Credit Card Chip System Revealed

Payment technology company firm NCR has discovered a new security flaw in the upgrade in the credit card chip system in the United States.

At the recent Black Hat computer security conference in Las Vegas, computer security researchers unveiled how they had found a way to bypass the chip’s security features, according to CNN.

A card will still have the magnetic strip attached to it so that they can still be used to purchase goods and services from a merchant that has yet to upgrade to EMV-enabled terminals.

However, according to CNN, the computer security researchers showed attendees how thieves are able to simply rewrite the magnetic stripe code so that it [...]

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