The Target data breach and the Heartbleed bug intensified the focus on the vulnerability of personal credit card data in both the physical and digital realms. As a natural consequence, consumers have become increasingly concerned about giving their card data to physical and online merchants. EMV chips for physical cards served as the solution to the Target breach. But what can prevent or at least mitigate e-commerce incidents similar to Heartbleed, wherein hackers gain the encryption keys to unscramble payment information? What is the security product that will keep information secure at online points of sale?
This whitepaper identifies the security issues facing consumers when shopping online and examines current solutions being offered by leading card issuers such as Citi and Bank of America. Potential long-term solutions to help create a more secure online shopping experience are also discussed along with eight key takeaways for all credit card issuers.
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