(KMOV.com) – A new type of credit card is about to hit the industry aimed at reducing the ability of hackers by using a more secure computer chip.
The chip can actually prevent crooks from duplicating your credit or debit card but hackers can still get your credit card number and many stores are slowly phasing in the technology.
The deadline set by credit card companies and banks is for it all to be in place by this time next year.
If retailers don’t have the new “card readers”, store owners will be responsible for any fraudulent transactions.
President Barack Obama also called upon the government this week to take a more hands-on approach to stop security breaches as they have hit companies like Target, Home Depot and most recently Jimmy Johns.
Obama is signing an executive order creating a plan called BuySecure to tighten security for the debit cards that transmit federal benefits like Social Security to millions of Americans. Cards issued by the federal government will now have an internal chip replacing magnetic strips.