Results of the payments industry-wide transition may include quicker card issuance and increased lawmaker scrutiny.
ARLINGTON, Va. – Credit card fraud costs increased 85% in four years, according to Visa.
Soon, credit unions will be liable for POS purchases made with counterfeit cards created by tampering with non EMV compliant ATM machines - a tab that, according to industry estimates, averages $650 per card, and up to $100,000 per incident.
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Helping members understand the pending ATM transition is a valuable move for credit unions.
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Learn what the liability shift deadline for ATMs and self-service fuel dispensers means for credit unions.
Forter and PYMNTS.com report 27 attacks for every 1,000 online transactions following the EMV shift.
Credit unions must prepare for the upcoming ATM deadline, educate members and emphasize chip card benefits.