Walmart's Sam's Club First to Roll Out New High-Tech Fraud-Fighting Effort

Published 06/13 2014 07:56PM

Updated 06/13 2014 08:24PM

NATIONWIDE-- This month, Sam's Club will be the first mass retailer in the country to introduce a credit card with an embedded microchip
aimed at preventing fraud.

The move comes on the heels of the security breach that's still affecting credit card users and stores nationwide, including Target and P.F. Chang's.

Now, as part of the fraud-fighting effort, all U.S. card-issuers and retailers, including restaurants, are required to have the microchip technology in place by October 2015.

The technology is known as 'EMV' for Europay, Mastercard and Visa. If an EMV-enabled card is lost, stolen or compromised in a data breach,the embedded microchip makes the card difficult to counterfeit or copy.

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