Way back in 2003, Target started to deploy EMV Card technology. However, it had to abandon its attempt to provide more security to its shoppers, as appropriate support was not received from payment card and the banking industry.
Target already uses the EMV technology at its Canadian stores and has seen a massive drop of credit card fraud by 72 percent.
Now again, Target which was the target of a massive data breach in late 2013, has begun the process of implementing secure EMV cards at all of its stores.
The solution is set to accelerate the deployment of chip-enabled technologies in stores and in Target’s proprietary REDcards by early 2015. The deployment would translate into a USD 100 million investment.
As of now, 300 Target stores in the United States (all in California) are already been equipped with EMV or “Chip and PIN” technology. The plan is roll out the EMV technology across the entire Target Chain by the end of 2014, and would have them in operation by January 2015.
The major benefit of standalone cards like Target’s REDcards is that hackers would not be much interested as the stolen credentials can be used only at the standalone network.