Payment card fraud is a big issue in the U.S. How big? The U.S. accounted for 51% of global payment card fraud costs in 2013, according to BI Intelligence. Further, the cost of U.S. payment card fraud grew by 29% to $7.1 billion. The hope is that EMV adoption will help turn these numbers around.
What Are the Benefits of Merchants Adopting EMV?
The primary benefit of Europay, MasterCard, and Visa (EMV) technology is the reduction in card fraud resulting from counterfeit, lost, and stolen cards.