(Image source from: Target credit card breach leaves the retailer)

If you have used your Redcard's credit/debit card to shop in Target stores between November 27-December 15, you are in for some serious trouble.

Target, which is next to Walmart in terms of sales and popularity, acknowledged a security breach of data from up to 40 million credit and debit cards over the two-week period, beginning around Thanksgiving,  the worst security breach among big retailers in recent years.

Security experts say the Target hack is a reminder of security problems facing many retailers that won't easily go away: “There are weaknesses in the way payment information travels between retailers and banks. There is plenty of money to be made on the black market selling stolen credit card numbers, which can go for as little as a quarter or as much as $45 each. And American companies have been reluctant to adopt smart-chip cards, a type of credit card widely used in Europe that provides better security,” writes New York Post.

“Yet as bad as the headlines may sound, it's unlikely the incident will have much of a longterm impact on Target's business. The chain is not the first retailer to experience a major security breach, and it certainly own't be the last. Barnes & Noble suffered a similar credit card breach last year at 63 of its stores across the United States. The previous year, a breach at Epsilon, a marketing firm, exposed some personal information for customers of more than 50 major retailers, including Best Buy, Walgreen's and even Target,” viewed another news source.

With Inputs from New York Times

AW: Suchorita Dutta Choudhury