Although it has become the standard in Europe, Asia and Latin America, there has been relatively little interest in moving to EMV chip technology in the United States.

Banks have heard the various arguments for the chip, mostly those that warn what’ll happen if the U.S. payments industry doesn’t convert, that American issuers will fall behind Europe, or that U.S. issuers are losing out on revenue from transactions in foreign countries because their customers’ cards aren’t accepted by chip-enabled POS devices, or that continuing to rely on magnetic stripe technology will leave issuers (and soon, merchants) more and more vulnerable to fraud.  

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