Are You Ready For Chipped Credit Cards?

U.S. banks are changing the security features of customers’ credit and debit cards in a long overdue measure to reduce card fraud. Cards will still work the old-fashioned way, but merchants who upgrade their systems to use the new security features will save money. They’ll also avoid the new liabilities for fraudulent charges that will be borne by merchants who don’t upgrade their systems…

Do Chipped Credit Cards Protect Against Fraud?

Everyone agrees that credit and debit card fraud is a huge problem that costs consumers, merchants, and card-issuing banks billions of dollars per year. Making cards more difficult to ‘clone’ is one measure that can cut fraud dramatically. So-called ‘chipped cards’ using embedded microchips are much safer, but do they eliminate all danger? Here is how chipped cards compare to traditional magnetic-stripe cards…

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