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Up until now, we have not seen a cloned chipcard, says Mushing.
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The deal will allow Infineon to focus on its core segments: automotive, industrial and chipcard security.
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Able to hold up to 120 bikes, it features individual parking boxes accessible by a chipcard.
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All they have to do is deliver their bikes to a lift and swipe a chipcard.
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However, union officials at Gemalto cautioned that the announcement did not refer to the struggling chipcard activity.
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In addition, Infineon could use the money to invest in its other businesses: automotive, industrial and chipcard security.
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Mobile payment company Square has chosen Australia as the first country outside of the United States to launch its contactless and chipcard reader today.
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For stores that have not, the chipcards can still be swiped the old-fashioned way.
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MasterCard reported this week that 40 percent of all U.S.-branded consumer credit cards are chipcards.
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That is because the earliest adopters of chipcards are frequent international travelers, according to Schulz.
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There are two loopholes that kept criminals from being hit even harder by the chipcards.
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The new Square device launching today costs $59 and works with contactless payment and chipcards.
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The ChipCard & Security segment designs, develops, manufactures and markets hardware-based security products for card applications and connected systems.
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Athletes in the new ad are seen paying for items using chipcards and other Visa products en route to the games.
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Chipcards, particularly those requiring a PIN, are much safer from fraud, says Erik Larson, president of NextAdvisor.com, which compares cards and services.
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The chipcards are all secured with the beneficiary's fingerprint to combat fraud, and the organization is also experimenting with emerging technology like iris scanning.