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Is Target Dumb for Pursuing Smart Cards?

Taking the position of "better late than never," Target is accelerating its $100 million investment into chip-enabled smart card technology to help rebuild consumer trust after the hacking attack last November and December. In testimony before Congress the other day about the data theft, the retailer admitted it could likely have done more. While it's supposedly asking "hard questions" of itself over how it could have prevented the theft of personal data from 40 million customers, Target's CFO said they've already installed 10,000 chip-enabled payment devices in its stores with a complete rollout expected to be achieved by September, six months ahead of schedule.

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