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Passcode Battle erupts over security of chip-enabled credit card readers

The Home Depot and Walmart are suing MasterCard and Visa in separate lawsuits over what the retailers claim is lax security on chip-enabled card readers that puts consumers at risk of fraud.

Retailers nationwide are in midst of rolling out payment terminals intended for cards embedded with smart chips, which are supposed to better protect consumers against financial fraud than cards with magnetic strips.

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