Chip Cards Help Address Three Pertinent Issues
It’s been one year since the United States launched the EMV chip-enabled cards. Now, there are now over 1 million chip-enabled businesses, 363 chip-enabled Visa cards. The implementation was to address three issues: fraud, mobile payments, and convenience. Already, there has been a 47-percent reduction in counterfeit fraud, secure mobile payment solutions like Apple Pay, Android Pay, and Samsung Pay, as well easier payments for international travelers. This is only the first year the chip cards have been in use. More advancements in security and convenience are sure to be underway.