Researchers from Newcastle University have discovered a serious flaw in Visaís contactless credit cards which could allow attackers to siphon large amounts of money off users' bank accounts without them even noticing.
The chip and PIN payment card system - or EMV - is considered to be more secure than the magnetic strip one, but it's also not bulletproof.
The massive breach that Target suffered late last year was the proverbial straw that broke the camel's back and made the company decide to move to chip-and-PIN card technology.
Target has announced that, effective May 5, Bob DeRodes will lead the company's information technology transformation in the wake of the massive breach it recently suffered.
A new security environment in which users will have a seamless experience when using cloud-based applications and services, accessing data, and opening doors is emerging.