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NRF calls for immediate adoption of chip-and-PIN tech
At a press conference this week, the National Retail Federation called for widespread adoption of chip-and-PIN payment card technology by U.S. retailers and their partners.
“The chip validates that it’s the real card,” said Tom Litchford, VP retail technologies for NRF. “The PIN provides two levels of validation.”
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First Data: Spending down in January as winter weather takes toll
Atlanta -- Consumer spending growth declined from December to January, but remained relatively healthy at 2.5%, according to First Data’s January 2014 SpendTrend report. SpendTrend tracks same-store point-of-sale data by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks from nearly four million U.S. merchant locations serviced by First Data. The report cited the severe winter weather that pummeled the Midwest and eastern half of the country as a factor in the decline.