Stephanie Ericksen, Visa’s Vice President Risk Products said, “That’s the date by which if a merchant doesn’t have a chip terminal, and a counterfeit card is used at that location, they may be liable for that fraud on that transaction.”
60% Customers Still have Old Credit Cards
“The number of chip cards in the U.S. from these issuers will grow to 60 percent by the end of this year, expanding to 98 percent by the end of 2017,” MasterCard said.
- Initiating Two-factor authentication (2FA) by applying Tokenization process.
- Decreasing card Counterfeit rates.
- Contactless card reading.
- Eliminating the Card swipe method by enabling “Card Dipping”- putting the card into a terminal slot and waiting for it to sense and process.
- Smart card
- Chip card
- Smart-chip card
- Chip-enabled smart card
- Chip-and-choice card (PIN or signature)
- EMV smart card
- EMV card
- Chip and Dip card
Is Chip and Pin Technology Safe Enough?
- Pre-Play Vulnerability Allows Chip-and-PIN Payment Card Cloning
- Chip and PIN payment card system vulnerable to Card cloning
- Fraudsters Physically Deploy Malicious Software to Hack ATMs
- FAQs about EMV credit cards
- Smart ATM offers Cardless Cash Withdrawal to Avoid Card Skimmers