PaymentsJournal

A-OK with Credit Card EMV

Credit card payment, buy and sell products & service

I was an EMV skeptic but was wrong.  US issuers danced around the conversion issue for two decades and MasterCard and Visa only mandated the issue when the interoperability issues began to impact network interoperability.  Now it all makes sense.

Nice Visa infographic illustrating the EMV progress, indicating that counterfeit fraud dollars dropped 70% between September 2017 and December 2015.  Indications are that 273 million debit and 209 million credit cards are in circulation as of December 2017.

Now, onto the next big problem.

Credit card fraud shifts like sands in the desert.  Just as one issue gets fixed, fraudsters look for the weakest link.  Next big issue to tackle: Card Not Present Fraud.

Overview by Brian Riley, Director, Credit Advisory Service at Mercator Advisory Group

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