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The Boston Globe

Business

Consumers may have to wait for more secure credit cards, says new report

Despite the hacking theft of some 40 million debit and credit card numbers from Target Corp. in December, most banks say they are not yet ready to begin large-scale distribution of the more secure cards that are common in Europe.

Issuers have said the Target breach has spurred them to work harder to meet an October 2015 deadline to replace the current cards with ones whose microchips generate unique codes for every transaction. So-called chip cards — also known as smart cards and EMV cards — make it more difficult for thieves to use fake cards made with stolen data.

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