Biometric Credit Cards on the way…More personal Info to be stored
The ‘Black Friday’ attack was a sophisticated, pervasive form of credit card skimming. It was also widespread sweeping consumer details across Target’s 2,000 stores in North America. The point-of-sales breach, likely the result of an email phishing attack on Target’s back-end system, was a big blow the store’s holiday sales and goal to increase it’s online presence, which has stagnated at 2 percent of gross sales.
Collateral damage of the Target attack includes JP Morgan Chase, which had 2 million customers—10 percent—affected by the data breach. As an extra layer of security, Chase has limited customer debit cards to $100 per day, ATM withdrawals, and $300 for debit purchases. All of Target’s bad news and Chase’s consumer restrictions come in the last week of holiday shopping. Chase isn’t the only bank involved.
Public sentiment has been downright negative to “I will never shop at Target again.”
Let’s see what Chase customers think of $100 daily limits. Try going out on town for two on that money. So who can consumers trust with their credit cards and personal information?
It appears no one.
Target’s ripple affect will go beyond the three class action lawsuits, lost revenue, and Full Article Here