Credit Card Technologies Advance with Embedded Chips (EMV) for Better Security, Business and Industry Trends Analysis

Credit card fraud is a massive problem, costing vast amounts of money each year.  Fraud losses on credit card accounts total billions of dollars yearly in the U.S. alone.  One of the largest challenges lies in the vulnerability of the credit card account number.  Unfortunately, thieves have frequently been able to hack into computer databases containing account information for millions of credit cards.  Thieves have also perfected the ability to swipe a card when a customer isn’t looking, capturing all of the information in a card’s magnetic strip so that a crude type of duplicate card can be created. Credit…

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