Walmart Commits to Smart Card Patron Payment System; May Energize Chip-and-PIN Throughout Businesses

Retail giant Walmart Stores Inc. is reportedly planning on making all its payment terminals in the U.S. compliant with a smartcard-based credit card technology that is widely used around the world but is not common in the U.S. Walmart’s plans were disclosed at a smartcard conference being held this week, and were first reported by Storefront Backtalk. Storefront Backtalk quoted Walmart’s director of payment services as saying the retailer was working on making all payment terminals in its domestic stores chip-and-PIN-capable. The director was reported as having said that signature-based credit-card transactions had become a “waste of time” for Walmart. Such a move by Walmart would have widespread ripple effects. As the largest retailer in the world, a Walmart decision to support chip-and-PIN could finally nudge card issuers, payment processors and other merchants to adopt the technology.

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