Target CEO Brian Cornell spoke at Re/code‘s Code Conference in Palos Verdes, California today, where he confirmed that the company plans to offer in-store support for Apple Pay in the future. According to Cornell, while he’d love to have Apple Pay available “right now,” support will not be coming until Target upgrades its system to support integrated circuit credit cards to comply with new standards.
Integrated circuit cards (or chip-and-PIN cards) replace the magnetic stripe on a credit card or debit card with an embedded microchip. The microchip communicates with a supported point-of-sale system and transactions are authenticated through a PIN instead of a signature.
Chip-and-PIN cards are already used in many countries around the world because they’re believed to be more secure than traditional credit cards. In the United States, retailers are being encouraged to adopt point-of-sale systems that support chip-and-PIN cards by the end of 2015. As…
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