No. of Recommendations: 5

Read The Wall Street Journal Blog entry: "The End of the Swipe and Sign Credit Card."

Apparently the Target heist got Congress's attention. In a Congressional Hearing on the topic, representatives of Visa and Mastercard said they plan to make the switch to the European Chip-and-Pin system by October 2015. I wonder how long after that American Express and Discover are forced to follow? Will Congress need to force the issue? Or will the market do it for them?

- Joel
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