Around 14 per cent of all US debit cards were exposed in 2013 following massive data breaches.
According to research by Discover Financial Services’ Pulse ATM network, the figure is three times that of 2012 and the majority of affected cards were exposed in the Target data breach, which affected ten per cent of all US debit cards, reports PC World.
While the figure for 2014 could be even higher as the Target breach continues to unfurl and other breaches have been reported, it reported that two-thirds of financial institutions plan to begin issuing EMV cards in 2015, as from October 2015, there will be a change in the liability rules concerning card purchases. After that date, card issuers and retailers that have invested in EMV technology will be protected from liability for losses.
The survey also found that consumers are using their debit cards more—the average card was used 20 times a month in 2013, up by one transaction from 2012. The average debit card was used for $8,875 of purchases in 2013, up $122 from the previous year.
