Chip cards stop counterfeit fraud, the number one source of in-store fraud, without a PIN. The microprocessor on the EMV chip cards creates a unique transaction code for each use, eliminating the possibility of counterfeit cards.
EMV chip cards provide greater security than conventional magnetic stripe cards. While adoption hasn’t been universal and there is still a long way to go, EMV is clearly gaining strong traction in the US market.ĮMV helps merchants reduce fraud, mitigate liability and give consumers peace of mind. More than 1.2 million merchants accept chip cards in the US today. We have reached 50 percent adoption of chip cards with more than 600 million new cards issued in the last 90 days.
EMV chip card migration is well underway. By Scott Blum, VP of Marketing, Business Development and Software Partners, Total Merchant Services
