Chip Cards Lead to 70% Drop in Counterfeit Fraud: Visa

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The adoption of chip-and-PIN card technology by an increasing number of merchants in the United States has led to a significant drop in cases of counterfeit card fraud, according to Visa.

The financial industry has been pushing for the adoption of EMV (Europay, MasterCard, Visa) card technology in the United States since 2011, and efforts were increased following the disclosure of the massive data breach suffered by Target in 2013.

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