Visa, MasterCard Release New Security Rules

New Security Updates Better Protect Personal Data

Even though credit and debit cards have become more secure since the implementation of EMV chips, they aren’t foolproof. The security update for Visa and MasterCard will help protect personal data against identity theft, as well as online data from different web threats. Counterfeit fraud is already down 47 percent, and more steps forward will further decrease potential fraud. Perhaps the biggest update will be that many organizations may be required to comply with PCI standards within the next two years. Whether a traditional business or online merchant isn’t in compliance, they may face hefty fines.

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