J.P Morgan Adds Chip-Based Cards — (Article Review #9)

Article Title: J.P Morgan Adds Chip-Based Cards

Article Author:
Andrew R. Johnson

Article Publication Date:
November 22, 2011

URL: http://online.wsj.com/article/SB10001424052970204443404577052614274591518.html

Article Summary:

Chase Bank adds microchips to customer cards so it would be harder to hack and for customers to use their cards with foreign merchants.

 The problem is that US retailers haven't upgraded their cash register system to handle the new card because the cost of upgrading is too expensive.

Relevance to Class:

Information is very vital to People. These new chips are implemented to block access from a certain group of users which are called hackers. The chips allow the user which is the customer to be more secure from fraud and also to use their cards in foreign countries.

Key Quote: A J.P. Morgan Chase spokesman declined to say how many customers have applied for those cards but said by email that demand has been strong.