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Chip cards drive credit card fraud online

Those new security chips make it harder to create counterfeit credit and debit cards, but that means more payment fraud will move from in-store to online, Quartz reports.  That’s largely what happened when chip cards launched in the UK, the outlet reports, citing research that suggests global online fraud might jump from $2.9 billion in 2013 … Continue reading “Chip cards drive credit card fraud online”

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Those new security chips make it harder to create counterfeit credit and debit cards, but that means more payment fraud will move from in-store to online, Quartz reports

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That’s largely what happened when chip cards launched in the UK, the outlet reports, citing research that suggests global online fraud might jump from $2.9 billion in 2013 to $25 billion in 2020.

About the author

Steven Melendez is an independent journalist living in New Orleans.

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