EMV and New Fraud Security Risks

EMV and New Fraud Security Risks

Recent large-scale data breaches and growing rates of credit card fraud have some U.S. merchants accelerating their efforts to transition to Europay, MasterCard, and Visa (EMV) global standard. Merchants who are EMV compliant are able to process "chip and PIN" credit and debit cards in card-present channels, such as point-of-sale (POS) terminals at retail locations, through secure EMV transactions. These plastic payment cards, which contain a microchip, can help to reduce fraud in card-present channels because the microchips are virtually impossible to duplicate.

 

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