In the wake of the data security breach it suffered over the Christmas holiday period, Target Corp. has appointed a new chief information officer. Bob DeRodes will lead the company’s information technology transformation beginning Monday, the Minneapolis-based retailer said Tuesday.
Target also provided details of security enhancements it’s made since the data breach last year. The retailer, which has been working toward adopting chip and PIN technology for the last decade, said it has accelerated its $100 million investment to put the technology in place by 2015. Target is working with MasterCard on a new initiative to enable Target-branded credit and debit cards with MasterCard’s chip and PIN solution. Besides moving its Red card portfolio to the new technology, Target is installing supporting software and next-generation payment devices in its stores. The new payment terminals will be in all 1,797 U.S. stores by September, six months ahead of schedule.
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