Nine U.S. states sent a joint letter to the companies, urging them to adopt chip-based payment cards. The letter was addressed to the CEOs of Bank of America, JP Morgan Chase, Capital One, Visa, Mastercard, American Express and Discover. The Retail Industry Leaders Association applauded the letter, calling chip and PIN the “gold standard” for card security. The new cards electronically transmit one-time codes instead of card numbers when customers pay. That eliminates risk of data breaches from malware from malware in store systems like those at Target and Home Depot.”]
Source: https://www.csoonline.com/article/3005443/pressure-increases-on-banks-to-adopt-chip-and-pin.html