The US decided to switch to EMV chip cards in October 2015. In 2016, e-commerce fraud rates grew by 33%, according to Experian, a global information services group After the EMV Liability Shift In 2016, the Strawhecker Group, a management consulting company focused on the payments industry, found that 29% of card-present merchants were already
Given mobile payments, the public attention has mainly been focused on POS solutions such as Apple Pay and Samsung Pay. However, Jane Cloninger, director and owner at Edgar, Dunn & Company, notes that most mobile advancements have been in the sphere of apps and mobile Web. During the 2016 CNP Expo, Leon Majors, founder and
Card-not-present fraud is predicted to accelerate this year as many consumers switch to chip enabled credit cards. Criminals will flee to the internet because it is much harder to verify the identity of cardholders online than at the POS. Luckily there are a variety of tools available to help merchants fight fraud and maintain profits.
As the United States undergoes a transition from magnetic strip credit cards to EMV chipped cards, online retailers and credit card companies are gearing up for a spike in e-commerce fraud. EMV is a standard that has been in effect in most of Europe for years. In EMV, a small micro-chip is placed on the