Visa's Chip-Enabled Cards Are Reducing Fraud And Could Soon Be Faster
It looks like Visa's chip credit cards are doing their jobs. Merchants have reportedly seen an 18 percent drop in counterfeit transactions.By Newsy Staff | April 20, 2016
It was a subtle change to your Visa credit card — the addition of a small little chip in hopes of reducing fraud.
And it looks like it's working. USA Today reports merchants have seen an 18 percent drop in counterfeit transactions.
Visa started rolling out the new EMV chip-equipped cards about six months ago, so an 18 percent difference is certainly significant — but the security measures aren't perfect.