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.
White House Cybersecurity Strategy at a Crossroads
Kelly Jackson Higgins, Executive Editor at Dark Reading,  7/17/2018
Lessons from My Strange Journey into InfoSec
Lysa Myers, Security Researcher, ESET,  7/12/2018
What's Cooking With Caleb Sima
Kelly Jackson Higgins, Executive Editor at Dark Reading,  7/12/2018
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2016-9574
PUBLISHED: 2018-07-19
nss before version 3.30 is vulnerable to a remote denial of service during the session handshake when using SessionTicket extension and ECDHE-ECDSA.
CVE-2017-2673
PUBLISHED: 2018-07-19
An authorization-check flaw was discovered in federation configurations of the OpenStack Identity service (keystone). An authenticated federated user could request permissions to a project and unintentionally be granted all related roles including administrative roles.
CVE-2017-7481
PUBLISHED: 2018-07-19
Ansible before versions 2.3.1.0 and 2.4.0.0 fails to properly mark lookup-plugin results as unsafe. If an attacker could control the results of lookup() calls, they could inject Unicode strings to be parsed by the jinja2 templating system, resulting in code execution. By default, the jinja2 templati...
CVE-2018-12911
PUBLISHED: 2018-07-19
WebKitGTK+ 2.20.3 has an off-by-one error, with a resultant out-of-bounds write, in the get_simple_globs functions in ThirdParty/xdgmime/src/xdgmimecache.c and ThirdParty/xdgmime/src/xdgmimeglob.c.
CVE-2018-14404
PUBLISHED: 2018-07-19
A NULL pointer dereference vulnerability exists in the xpath.c:xmlXPathCompOpEval() function of libxml2 through 2.9.8 when parsing an invalid XPath expression in the XPATH_OP_AND or XPATH_OP_OR case. Applications processing untrusted XSL format inputs with the use of the libxml2 library may be vulne...