EMV conversion won't reduce fraud if retailers don't also require a PIN or signature verfication.
Visa USA has reported that U.S. financial institutions have issued more than one million credit and debit cards that use information on embedded computer chips to validate transactions instead of magnetic stripe technology.
Card brand says strong interest among large issuers and small.
Visa USA has made some recommendations for how to implement the shift from magnetic stripe payment cards to those which use a chip for authentication. And a Visa executive predicted the technology will have become a standard payment method by 2015.
Card firm seeks to clarify coming EMV offering's impact.