Don’t miss another episode of Truth In Data! Click on the red bell in the lower left corner of your screen to receive notifications as soon as the episode publishes.
Data for this episode of Truth In Data provided by Mercator Advisory Group’s report – The State of Debit Card Fraud
- 56% of cardholders change where they shop or how they shop following a fraud event
- 65% of cardholders use their card less after being declined making a purchase
- When individuals have been falsely declined two times or more in six months, 20% stop using their card
- Card issuers face a massive influx of card not present fraud following the sudden shift to EMV chips
- In June 2018, 67% of US merchants accepted EMV chip cards
- By December 2018, over 90% of transactions were completed with EMV chips
About this report
Managing debit card fraud needs a new approach. Debit card fraud since implementation of EMV is well managed despite a barrage of threats, but as the shift in transactions toward card-not-present channels continues and criminal tactics evolve accordingly, fraud prevention takes on a more critical role. Cardholders can be more effectively engaged in the fraud prevention effort if it is viewed as a product relationship service not a back-office function. Keeping debit cardholders safe from fraud protects not just the card but the core relationship.
