Wal-Mart exec: Credit card upgrade a 'joke'

April 3, 2015 5:23 PM

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Wal-Mart exec: Credit card upgrade a 'joke'

Wal-Mart's executive in charge of payments thinks the United States' switch to chip-based credit cards is going to be a disappointment.

The new "chip & signature" program is barely an improvement on security and fraud, said Mike Cook, Wal-Mart's assistant treasurer and a senior vice president, at this week's Electronic Transaction Association's Transact conference in San Francisco. Cook said Wal-Mart would have preferred a "chip and...

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