nicwr2002
Joined: 17 Aug 2011
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 Posted: Tue Jun 25, 2013 12:04 am Post subject: EMV debit/credit cards coming to the States |
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Did you know that the U.S. has been the No. 1 country for credit card fraud in the past five years?
This may come as no surprise after hearing that the U.S. is behind the rest of the world in making the upgrade to EMV enabled credit cards. EMV stands for Europay Mastercard Visa, and it has revolutionized security for credit card transactions. EMV cards are widely being used in Canada, Europe, and Asia and are being adopted as the standard for credit cards worldwide. An EMV card looks like a regular credit card, but instead of using a magnetic stripe it has an integrated microprocessor chip that greatly reduces the risk of counterfeit and fraud. Cards with magnetics stripes contain “static” data that never changes, but the information in the chip is uniquely encoded with every transaction. This process makes it much harder for criminals to swipe useful payment data from EMV transactions.
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http://smallbusiness.yahoo.com/advisor/emv-coming-wallet-2015-infographic-044801338.html
Looks like Americans will start having those micro-chips on our cards too. |
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