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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.