
The Cost of Crime – Part 2: The Fight Against Payment Fraud
The line in the sand has been drawn. After years of getting pummeled by billions of dollars in losses due to payment fraud, the major U.S. credit card issuers gave merchants an ultimatum: upgrade to more secure EMV “chip card” technology or be on the hook for financial losses due to fraud. That was the mandate in October 2015, yet six months after the deadline to implement EMV technology has come and gone, shoppers are still being asked to swipe their cards instead of dipping the chip for added security at many stores.