Fraud Drops 76% for Merchants Using EMV, Says Visa

A new report from Visa says that the shift to chip cards has resulted in dramatically reduced credit card fraud levels.

Chip cards are paying off in terms of reduced fraud. Thats the conclusion of a new Visa report on transactions since the shift to EMV (named after original developers Europay, MasterCard, and Visa) cards in 2015.
According to Visa, merchants that have completed the shift to EMV cards have seen their fraud level drop by 76% from December 2015 through December 2017. Of particular note, Visa says that EMV cards have been very effective in reducing counterfeit fraud, which it calls the most common type of credit card fraud committed in the US.
By March of 2018, 97% of total credit card transactions took place using EMV cards. Since the formal shift to EMV cards, the number of cards with chips has risen from 159 million in September 2015 to 483.6 million in March 2018.
Visa says that more than 2.9 million merchant locations are now accepting EMV cards.
For more, read
here
.

Last News
▸ Scan suggests Heartbleed patches may not have been successful. ◂ Discovered: 23/12/2024 Category: security	▸ IoT Devices on Average Have 25 Vulnerabilities ◂ Discovered: 23/12/2024 Category: security	▸ DHS-funded SWAMP scans code for bugs. ◂ Discovered: 23/12/2024 Category: security

**Cyber Security Categories**
Google Dorks Database	Exploits Vulnerability	Exploit Shellcodes

CVE List

Tools/Apps

News/Aarticles

Phishing Database

Deepfake Detection

Trends/Statistics & Live Infos

Tags:
Fraud Drops 76% for Merchants Using EMV, Says Visa