With the transition to EMV chip cards in the United States beginning in October 2015, most merchants believed they would gain strength in the battle against payment card fraud. Observers anticipated that the historically low rates of counterfeit card fraud at the point of sale (POS) in the U.S. would decrease even further with the shift to EMV chip cards. According to MasterCard, from April 2015 to April 2016 counterfeit fraud costs dropped 54% at U.S. retailers who had completed or were close to completing EMV adoption. But card fraud is becoming a tale of two channels now because online fraud is rising.
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