Molly Wilkinson

Federal law established oversight of banks’ security measures, but the lack of similar requirements for retailers creates a blind spot in defending against hacks.

There is an old saying by Mark Twain, "Never let the truth stand in the way of a good story, unless you can't think of anything better." Recently, Walmart filed a lawsuit against Visa complaining the company won't let it require PINs on transactions made with chip-enabled debit cards.

Everyone agrees that electronic transactions should be as safe as possible, but a PIN mandate will not prevent online or mobile fraud.

Last week U.S. House Small Business Committee held the second part of a hearing entitled “The EMV Deadline and What it Means for Small Businesses,” which was supposed to address payment security in the United States.