Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Endpoint

2/23/2018
11:12 AM
50%
50%

Visa: EMV Cards Drove 70% Decline in Fraud

Merchants who adopted chip technology saw a sharp decline in counterfeit fraud between 2015 and 2017, Visa reports.

Merchants in the United States who adopted EMV chip cards saw a 70% decline in counterfeit fraud between Dec. 2015 and Sept. 2017, according to new data from Visa.

The payment card company began shifting to chip cards in 2011 to reduce counterfeit fraud, the most common type in the US at the time. More than 2.7 million merchant locations now accept chip cards, which marks a 578% increase from the 392,000 accepting them in Sept. 2015. Nearly 60% of US storefronts take chip cards.

User adoption has increased as well. In Sept. 2015, there were 159 million Visa chip cards in the US. By Dec. 2017 that number reached 481 million, and 67% of Visa credit and debit cards are chip-enabled. Nearly all (96%) of US payments in December were done with EMV chip cards.

Read more details here.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Joe Stanganelli
0%
100%
Joe Stanganelli,
User Rank: Ninja
2/26/2018 | 9:30:22 PM
Re: 96%?
@Dr.T: Because (1) many consumers are still confused about EMV technology and (2) the processing of EMV chips takes much longer than standard swipe-card technology, many retailers have purposely declined to activate their EMV setups so as to keep their business moving more smoothly and more quickly. Even some major retailers purposely delayed their rollouts until such a time as consumers became more used to chip-insertion, letting consumers figure things out and scratch their heads on other retailers' time.
Joe Stanganelli
50%
50%
Joe Stanganelli,
User Rank: Ninja
2/26/2018 | 9:28:03 PM
Re: EMV
@Dr.T: Why do you hope this?

What I'm trying to communicate is that EMV is not invulnerable and bears its own vulnerabilty issues and potential exploits. Once you have much more broader penetration of EMV overall, you'll start seeing a greater focus on EMV attacks.
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
2/26/2018 | 8:04:46 PM
96%?
Nearly all (96%) of US payments in December were done with EMV chip cards. 96% is a surprisingly high. Some of these cards have both magnetic strip and chip, they may still be using swipe.
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
2/26/2018 | 8:01:21 PM
Re: EMV
Expect this figure to spike back up once there is broader use/acceptance/deployment of EMV tech. That is my hope too, they need to stop providing magnetic cards to speed this adaption.
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
2/26/2018 | 7:59:31 PM
chip cards
Glad to hear chip card utilization going up in US, we are way behind Europe on this.
Joe Stanganelli
50%
50%
Joe Stanganelli,
User Rank: Ninja
2/25/2018 | 9:33:52 PM
EMV
Expect this figure to spike back up once there is broader use/acceptance/deployment of EMV tech. Hackers and attackers go for low-hanging fruit -- but EMV is hardly an impenetrable technology, security-wise.
AI Is Everywhere, but Don't Ignore the Basics
Howie Xu, Vice President of AI and Machine Learning at Zscaler,  9/10/2019
Fed Kaspersky Ban Made Permanent by New Rules
Dark Reading Staff 9/11/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
7 Threats & Disruptive Forces Changing the Face of Cybersecurity
This Dark Reading Tech Digest gives an in-depth look at the biggest emerging threats and disruptive forces that are changing the face of cybersecurity today.
Flash Poll
The State of IT Operations and Cybersecurity Operations
The State of IT Operations and Cybersecurity Operations
Your enterprise's cyber risk may depend upon the relationship between the IT team and the security team. Heres some insight on what's working and what isn't in the data center.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-14540
PUBLISHED: 2019-09-15
A Polymorphic Typing issue was discovered in FasterXML jackson-databind before 2.9.10. It is related to com.zaxxer.hikari.HikariConfig.
CVE-2019-16332
PUBLISHED: 2019-09-15
In the api-bearer-auth plugin before 20190907 for WordPress, the server parameter is not correctly filtered in the swagger-config.yaml.php file, and it is possible to inject JavaScript code, aka XSS.
CVE-2019-16333
PUBLISHED: 2019-09-15
GetSimple CMS v3.3.15 has Persistent Cross-Site Scripting (XSS) in admin/theme-edit.php.
CVE-2019-16334
PUBLISHED: 2019-09-15
In Bludit v3.9.2, there is a persistent XSS vulnerability in the Categories -> Add New Category -> Name field. NOTE: this may overlap CVE-2017-16636.
CVE-2019-16335
PUBLISHED: 2019-09-15
A Polymorphic Typing issue was discovered in FasterXML jackson-databind before 2.9.10. It is related to com.zaxxer.hikari.HikariDataSource. This is a different vulnerability than CVE-2019-14540.