This kind of credit card tech needed: Macy's CEO

Monday, 13 Jan 2014 | 8:01 AM ET
Macy's CEO: Retailers on security alert
Monday, 13 Jan 2014 | 6:47 AM ET
Terry Lundgren, chairman, president and CEO of Macy's, discusses his company's efforts to protect their customers from the kind of security breach that happened at Target, where as many as 110 million customers had their private data compromised.

Macy's Chairman and CEO Terry Lundgren told CNBC on Monday there's no evidence that his retailer has been subject to the kind of cyberattacks experienced at Target and Neiman Marcus.

"We have nothing to believe this is an issue for us at this moment," Lundgren told "Squawk Box," adding that securing customer data is much broader than one or two companies. "Everyone was on alert."

Against the backdrop of these attacks, there have been calls to upgrade the technology behind credit card purchases for Americans customers.

EMV chip technology offers better safety: Target CEO
Gregg Steinhafel, Target chairman & CEO, explains why it is now time to upgrade the nation's standard level of security on credit and debit cards with new microchip technology.

In an exclusive CNBC interview that aired Monday, Target Chairman and CEO Gregg Steinhafel said he supports the movement to a chip and PIN-number system called EMV technology that replaces vulnerable magnetic strips.

(Read more: 'I'm still shaken'by Target data breach, says CEO)

But switching the entire payment system will be difficult and expensive—and it likely won't happen for shoppers in the U.S. until the end of 2015.

Lundgren didn't say whether he supports that EMV system, but stressed: "The retailers, the banking industry, [and] the credit card industry should be working very closely together to figure out what is the right technology to protect the consumers … and then work around the solutions from there."

On Dec. 19, Target disclosed that as many 40 million credit and debit cards were compromised between Nov. 27 and Dec. 15 by malware installed on the company's point of sale registers.

(Read more: Target CEO defends delay to disclose data breach)

Target said Friday its continuing investigation found that at least 70 million customers' personal information was stolen from its database—including names, mailing addresses, telephone numbers, and email addresses. The retailer expects some overlap in the two data sets but does not have the exact numbers yet.

Also Friday, Neiman Marcus disclosed that some its customers' credit cards were compromised in a security breach.

Retailers and banks need to move to chip technology now: Expert
Steve Sadove, former Saks chairman & CEO, and Matthew Shay, NRF CEO, discuss why it's time to move to new technology to enhance credit card safety and protect customer safety

"The Target breach can get us all moving" to safer credit card systems to protect consumers, said Steve Sadove, former chairman and CEO at Saks and current chairman of the National Retail Federation (NRF).

"We do need to move to some new technology," he continued. "It's going to require cooperation with the banks as well as the retailers."

"We're not the only stakeholders here," NRF president and CEO Matthew Shay emphasized. "We need financial institutions. … We [all] have an interest in protecting the consumer. That's [our] number one interest and it should be for the other stakeholders as well."

By CNBC's Matthew J. Belvedere. Follow him on Twitter @Matt_SquawkCNBC.

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