A: The embedded microchip makes cardmember information much more difficult to duplicate or copy, and provides enhanced fraud protection on your account when used at a chip-enabled terminal. If your card is lost or stolen, you should call the number on the back of your credit card so we can issue a new Chip Card to you.
https://www.citi.com/credit-cards/credit-cards-citi/citi.action?ID=chip-technology-questions
About 68 percent of Mastercard-branded credit and debit cards have been issued with chips so far, as of Oct. 1, 2016. For all U.S. credit cards, CPI Card Group estimates approximately 81 percent of cards now have chips on them. If some of the cards in your wallet have yet to be issued with chips, don't fret.
http://www.creditcards.com/credit-card-news/emv-faq-chip-cards-answers-1264.php
Two companies kick off a race to market with EMV chip cards, long a staple in Europe. But with NFC payments on the rise, this seems less like innovation and more a stopgap measure. By David Zax04.15.11 | 12:10 am. American credit card companies may be taking a page from Europeans. At least two companies say they plan to to experiment with chip-embedded cards like the ones used abroad. If you’ve traveled in Europe, you’ve probably noticed that credit cards differ there–most use an embedded EMV chip.
https://www.fastcompany.com/1747514/microchip-embedded-credit-cards-coming-america-long-last
Chip card security is the latest standard in credit card security. This standard (called EMV for “EuroPay,” “MasterCard,” and “Visa”) includes a small microchip in the credit card that protects buyers against fraudulent transactions.
https://squareup.com/townsquare/why-are-chip-cards-more-secure-than-magnetic-stripe-cards
Soon, you’ll want to set up your business to accept both NFC (contactless) payments and EMV payments. Overall credit card security is still something to watch out for in 2016. But with new technologies like the chip and pin credit cards and Apple Pay, the trend is definitely looking up.
https://squareup.com/townsquare/why-are-chip-cards-more-secure-than-magnetic-stripe-cards
A: These are all just different terms for the same technology. The technology used in these credit cards is commonly known as being EMV-enabled, which stands for Europay, MasterCard and Visa, which uphold the chip technology. These cards are a global standard for processing credit and debit card payments.
https://www.citi.com/credit-cards/credit-cards-citi/citi.action?ID=chip-technology-questions
Because of the change in credit card security, banks are phasing out magnetic stripe cards in favor of these more secure, authenticated ways to pay. But what exactly is the problem with magnetic stripe cards? And why are chip cards better? Well, a number of reasons.
https://squareup.com/townsquare/why-are-chip-cards-more-secure-than-magnetic-stripe-cards
The EMV credit card rollout, however, is progressing steadily. More than 408 million Visa chip cards have been issued in the U.S. overall so far, as of Dec. 31, 2016. Approximately 189 million of those chip cards are Visa credit cards and about 219 million are chip-equipped debit cards.
http://www.creditcards.com/credit-card-news/emv-faq-chip-cards-answers-1264.php
Watch: New Security Chip in Credit Cards Revealed. Credit card fraud is a growing problem in the U.S. About 31.8 million U.S. consumers had their credit card information stolen last year, more than three times the number of consumers affected in 2013, according to a report published by Javelin, a company that studies customer transactions.
http://abcnews.go.com/Business/credit-card-chip-rule/story?id=34148839
If fraud occurs when a magnetic stripe card is swiped at a chip-enabled terminal, the bank is still responsible for the fraud. American Express will transfer liability to business owners on Oct. 16. Those New Credit Card Chips Known as EMV Won’t Defeat the Data Thieves.
http://abcnews.go.com/Business/credit-card-chip-rule/story?id=34148839
what is the reason for chips in credit cards
The reason for chips in credit cards is the embedded microchip makes cardmember information much more difficult to duplicate or copy, and provides enhanced fraud protection on your account when used at a chip-enabled terminal. The reason for chips in credit card is that, it makes cardmember information much more difficult to duplicate or copy, and provides enhanced fraud protection on your account when used at a chip-enabled terminal.