Combatting credit card fraud is a huge issue in electronic payments. According to an article published on March 3, 2016 by Market Wired, "A recent survey conducted by Vantiv and Socratic Technologies found more than 40 percent of consumers have fallen victim to either credit or debit card theft or fraud."
Liability and EMV: The Need For Upgrades
February 01,2016
Jason Weinberger
Industry News,
EMV chip cards,
EMV chip readers,
EMV chips
Leave a comment
Earlier this year, at least fifty people were reported to be victims of credit card fraud at a San Anselmo gas station in California. According to Marin Independent Journal, physical skimming devices were the culprits of this security breach and had to be removed from the pumps. Similar incidents are being investigated in adjacent counties.