Coffee Sipping Big Board Stocks

[BullNBear52]

"The simplest way to circumvent chip-and-PIN is to use a stolen card number to make an online purchase," said Paul Kleinschnitz, a senior vice-president for cyber security solutions at card processor First Data Corp.

That is true if you also have the 3 digit code on the back. And there is an added layer you can add to your Visa card.

http://usa.visa.com/personal/security/security-program/verified-by-visa.jsp

Citi has already replaced my card with a chip card.

Chip technology has been widely used in Europe for nearly two decades, but banks there typically require PINs. Even so, the technology leaves data unprotected at three key points, security experts say: When it enters a payment terminal, when it is transmitted through a processor, and when it is stored in a retailer's information systems.

I'm not buying that. Without the chip card being inserted into the reader it won't work.