Due to the cost of upgrading their equipment to accept the new chip cards, many merchants have not yet done so. Atlanta-based Home Depot says new payment cards with "chip" technology remain less secure in the U.S. than cards used in Europe and elsewhere in the world. Visa and MasterCard are using security measures prone to fraud, putting retailers and customers at risk of thieves, The Home Depot Inc. says in a new federal lawsuit. About 80 nations use cards with chips, and most of them — including England, France and Australia — also require a PIN, Home Depot said. "Neither one protects against all types of fraud, but in terms of protecting against lost or stolen cards, chip and PIN is more secure," Piercy said.

Source: ABC News June 15, 2016 11:43 UTC