Home Depot files antitrust lawsuit against Visa and MasterCard
Home Depot has filed a federal lawsuit against Visa Inc. and MasterCard Inc., alleging that the card companies are using security measures prone to fraud, putting retailers and customers at risk of hacking attacks by cyber thieves, reports the Wall Street Journal. Home Depot said chip cards rolled out in the United States in recent years are less secure than chip cards used in Europe and elsewhere in the world. The reason: PIN. Even with the embedded chip, U.S. chip cards still require a customer signature for verification rather than the added layer of protection provided by a 4-digit PIN.
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