It has become much more difficult for criminals to counterfeit credit and debit cards since EMV® chips started being embedded for improved security. The industry was encouraged to shift to chip cards in the U.S. a little over three years ago with the promise of better protection against counterfeit fraud for consumers, merchants and issuers.
Recent statistics related to card adoption, transactions and counterfeit fraud dollars since October 2015 all point to chip cards delivering on their promise. For starters, merchants who upgraded their point-of-sale systems to support chip cards have experienced a drop in counterfeit fraud dollars by 80 percent and more than 3.1 million merchants now accept chip cards.
But that’s not the whole story. You can check out other statistics from Visa related to chip cards in the infographic below. To learn more about how Visa helps to protect payments, follow us on Twitter at @VisaSecurity.