New rules to limit access to cards that use smart access controls are expected to be introduced by the Federal Trade Commission.
The rules will apply to the cards that make up most credit and debit cards, including the ones that can be used in most stores and restaurants.
They are intended to help reduce fraud by requiring a PIN and the access control code that is stored on the card.
The move comes as a backlash against smart cards grows, with many retailers and other businesses adopting the devices to boost their revenue.
It is unclear whether the rules will affect other cards, such as the ones used at gas stations and grocery stores.Read More
