BizSugar.com › Technology › Payments experts assure Senate that swipe-and-sign cards will disappear in 2015

This week, Target's CEO appeared before the Senate Judiciary Committee to discuss the recent breaches that led to the loss of 40 million credit card numbers, as well as information pertaining to 70 million customers. Although malware placed on Target's system is what exposed the data, most of the committee's time was spent censuring traditional swipe-and-sign cards. Officials from Neiman Marcus (which also suffered a data breach), consumers bureaus, and Symantec also testified, calling for a movement away from the system we have in place now, to a chip-and-PIN system similar to Europe's.