Will new EMV rules make affiliate fraud WORSE?
Quick rundown:
Impact on online transactions
Source: EMV Issues
This is a serious problem for vendors. Make sure you deal only with processors who are fully EMV compliant.
Paypal is solid but what about the decent chunk of traffic out there that doesn't use Paypal?
| EMV stands for: Europay, MasterCard, Visa. This is the chip based technology now being used by credit card issuing banks into credit and debit cards. It is virtually impossible to duplicate these chip cards. International market migrations to EMV chip have proven that chip cards help reduce counterfeit fraud significantly. Although the magnetic stripe is still on the card itself, the EMV chip is secure and encrypted when used with the chip, rather than "swiping" the card. With security flaws in the current non EMV enabled system, the ability to steal a card or forge a signature is quite common. Technology has even become available on the black market for both reading and writing the magnetic stripes, making cards easy to clone and use without the owner's knowledge. |
| if fraud happens on a credit or debit card and the merchant is not EMV-enabled, they could be liable for that charge and associated fees. So what does this mean for online retailers, adult and mainstream, in the U.S.? With in-store transactions presumably safer as more consumers use EMV-enabled cards, criminals will surely increase their efforts at targeting online retailers. In the E.U. and Australia, online fraud has increased 10 percent since they have implemented EMV. |
This is a serious problem for vendors. Make sure you deal only with processors who are fully EMV compliant.
Paypal is solid but what about the decent chunk of traffic out there that doesn't use Paypal?