Dr. John Mooney Comments on the Future of Credit Card Security in Los Angeles Times Article

In a Los Angeles Times article about the future of credit card security, John Mooney, associate professor at the Pepperdine Graziadio School of Business and Management, says “keeping up with the current EMV chip technology hasn’t been simple. Merchants have been slow to adopt the chip readers partly because the smartcards require a chip reader that can cost $500 apiece. The embedded EMV chip is the small metallic-colored square that is usually found on the left of the credit card’s face. The chip issues a special code with each use, making it far more difficult to counterfeit a payment card. “I don’t think that credit cards are going to go away for quite some time,” Mooney continued. But, he added, “I would not bet on the credit card industry continuing to be as profitable as it has been.” Read more here.