With the introduction of credit cards with an embedded security chip, the banking and retailing industries are battling over issues of security, fraud and the cost of adoption. For years, European banks have issued credit cards with both the chip and a PIN; U.S. banks are foregoing the PIN and relying solely on the chip and an in-person signature. Retailers argue they are absorbing the high cost of adopting the chip technology and paying interchange fees, without reaping any of the benefits of lower fraud. Continue reading Retailers and Banks Battle Over Adoption of Chip Technology