We notice you are visiting from a U.S. Internet provider. 
22/02/2010 -
In light of the recent release of a paper from Cambridge University researchers that found an exploit in the chip and pin payment processing security system, the organization responsible for chip and pin's specification, EMVCo, announced it will be conducting independent research to investigate the paper's claims.The specification body, owned by American Express, JCB, MasterCard and Visa, said it will "conduct its own analysis and draw its own conclusions. The payment systems will do the same."
MasterCard also said it would be reviewing chip and pin security, while the UK Payments Administration negated claims that consumers would be held responsible for the costs of this kind of fraud by saying that the attack was "detectable."
Still, merchants are concerned about the implications of the research, as many have invested a significant amount of money in upgrading their POS terminals to chip and pin capabilities - especially in Canada, where the country is making efforts to take the chip and pin system to a national level.
Regardless of the results of the investigation, merchants should not think that a chip and pin system makes them invulnerable to payment processing security breaches, and should continue to secure their systems with care, Walt Conway recently reported for StorefrontBacktalk.com.
