FOSTER CITY, Calif.—A new report indicates that all the money issuers are paying to invest in chip cards is paying off.
According Visa, counterfeit fraud at U.S. chip-enabled merchants was down 66% in June of 2017 compared to June of 2015.
“What's more, U.S. financial institutions have issued 462 million chip cards to consumers, and 2.5 million, or 55%, of U.S. storefronts now accept cards with the EMV chip,” StockNews.com said.
According to Visa, as of September, there were $59.4 billion of chip transactions, up from $4.8 billion in September of 2015.