“Once again, the NRF is more interested in pointing fingers than accepting responsibility for their role in protecting consumer data. That’s a distraction. Plain and simple, the Target breach — and the others recently in the news — had little to do with card technology and everything to do with failed computer security at major retailers.”
ABA and the other groups emphasized that while chip-based technology is part of the solution — and that banks and retailers are already moving to adopt it — retailers must support innovative efforts to improve security. “Protecting consumer data is a shared responsibility, and merchants must have the same tough data security standards as financial institutions to thwart hackers.”
Read the joint statement.