Most issuing banks are not allowing recent retailer data breaches to change their schedules for adopting EMV-chip cards, even though Target and other companies have said they would fast-track their own plans.
In the wake of its 2013 holiday-season card data breach, Target executives have promised to have EMV technology in place and chip-based cards issued to customers about six months prior to the October 2015 liability shift for EMV migration in the U.S. That puts Target so far ahead of the pack that other companies may not catch up, says Render Dahiya, CEO of Chicago-based card provider Arroweye Solutions.
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