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New credit cards aim to protect consumers, banks from hackers

Written by TechBug

US consumers are about to get a new defense against cybercrime. The armor will take the form of credit and debit cards with a built-in chip, which retailers must be able to read as of Thursday.

Short for EuroPay, MasterCard and Visa, EMV chips create a one-time-use code needed for each purchase, which makes stolen card numbers less valuable on the black market. Consumers may see slightly longer transaction times as in-store readers run the EMV cards, assuming merchants have set up the new payment terminals in time.

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