SAN FRANCISCO (KRON) — There could be a serious security flaw with chip-based credit cards.
Researchers say card thieves can re-write the strip’s code to make it appear like a chipless card.
This allows thieves counterfeiting.
Experts say the flaw will lead to more complaints by retailers who arguey they were forced by banks to accept chip-based cards.
Retailers say the chip upgrade could cost them $25 billion.