Removing Barriers Blog

Retailers fall short in effort to rally AGs behind chip-and-PIN
Posted November 18, 2015 by CUNA Advocacy

A recent effort by the retail industry to hype the power of chip-and-PIN technology to address data security problems seems to have fallen well short of its goal.

The retail industry recently worked to organize a letter from state attorneys general to claim chip-and-PIN technology can somehow scrub away cybersecurity problems entirely.

In response, we joined a coalition of state leagues to rapidly coordinate a targeted and aggressive response against the effort. When the AG letter was sent this week urging the nation's largest card issuers to speed up chip-and-PIN implementation, it carried only nine of a possible 56 AG signatures.

Although we do back technologies such as chip-and-PIN and tokenization as important pieces to securing the payments network, we’ve also been adamant that the most important piece to the security challenge is to require all stakeholders to comply with the same strict set of standards.