International. Frost & Sullivan concluded an analysis that presents the adoption of EMV as a global standard that will help prevent payment card fraud, which continues to be a major concern for the industry.
In 2011 the amount for card fraud was 1,773 million dollars in the Single Euro Payments Zone (SEPA), for an increase of 4.3%. Nearly 50% of all credit card fraud in 2011 occurred in the United States.
The firm explains that the EMV standard will help reduce that type of fraud, because the chip platform is secure and flexible by being based on risk management.
Frost & Sullivan published a white paper on EMV and the U.S. migration to that standard, which is available on that company's website. See HERE
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