There is a sweeping change set to affect credit card payment security. Although the US lags behind other developed nations in adopting this technology, it could mark a radical shift in how consumers view the safety of their transactions – whether in store or online. The steps to begin adoption of this technology were brought about through an executive order signed by President Obama in October 2014 to speed the adoption of EMV-standard cards in the US. Target date for nationwide deployment is October 2015. This is good news for the beleaguered companies that were hit by hackers over the past few months across the American continent!
Here’s what EMV is all about… EMV stands for Europay, MasterCard and Visa, a global standard for inter-operation of integrated circuit cards (IC cards or “chip cards”) and IC card capable point of sale (POS) terminals and automated teller machines (ATMs), for authenticating credit and debit card transactions. (Click the link for a detailed explanation from Wikipedia)
And here’s an FAQ developed by the Smart Card Alliance to answer questions about EMV. How is this new technology ‘different’ from the current standard? The biggest benefit of EMV is the reduction in card fraud resulting from counterfeit, lost and stolen cards. EMV also provides interoperability with the global payments infrastructure – consumers with EMV chip payment cards can use their card on any EMV-compatible payment terminal. EMV technology supports enhanced cardholder verification methods and, unlike magnetic stripe cards, EMV payment cards can also be used to secure online payment transactions.
Cyber-security is a burgeoning field as more and more of our daily activities go ‘online’. What part will you play in keeping data safe?
New ideas keep surfacing for capturing and storing energy available right now for future use. Because we must continue to find ways that plan ahead for sustainable life on earth, this is a really hot topic.
Batteries can store electricity generated by solar and wind power when conditions are favorable, so it can be used when they are not. Electricity storage is the second part of the renewable energy solution. By investing in new battery systems, Germany is continuing down the path it started on to shift away from nuclear power.
There are a batch of links in the article to other stories relating to the savvy Germans and the strides they are making. Jobs in energy – renewable, non-carbon based, solar, wind, etc., are plentiful. What are you going to do with your future? (Remember to bring a flashlight – efficiently powered of course!)