How the Grinch Stole Target’s Christmas

Target made headlines this week when it was revealed that more than 40 million credit and debit card numbers might have been stolen from the retailer’s credit card-swiping machines across the United States. The breach of security occurred during the peak holiday-shopping season, lasting from Black Friday through mid-December. Shoppers take for granted the security of using plastic to make purchase in store, and they have become more dependent on using credit and debit cards. A recent report from Visa found that 40% of Americans carry an average amount of $20 or less in their wallet.

However, will the news of large-scale identify theft make shoppers rethink what payment form they reach for at the checkout? Target is already racing to help shoppers by posting a guide to dealing with identify theft, but the news might still hurt the Target image during this all-important holiday-shopping season.

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