Bill Hanifin
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When Target CFO John Mulligan testified before a Senate committee this week, he provided a clear view of steps the retailer would take to protect against a future cyber-breach. He shared that Target had moved up its timeline to deploy chip-enabled smart card technology for use with its proprietary REDcards and terminal acceptance devices.
He also made a point that responsibility for protection against another cyber attack was a shared responsibility, saying in an article from Retailing Today “Updating payment card technology and strengthening protections for American consumers is a shared responsibility and requires a collective and coordinated response.”
The National Retail Federation joined into the hearings echoing that unity among retailers and payments providers is a better approach than finger – pointing. NRF General counsel Mallory Duncan stated “Rather than resort to blame and shame, the parties should work together to ensure that the data breach is remedied and steps are taken to prevent and mitigate future breaches.”
Consumers will soon be more tolerant of a data breach as they are nearly impossible to eradicate. They will judge brands which are impacted harshly based on their response to the situation. A unified approach towards a solution among major retailers is the right one to take.
