For the past one year there is a move to make the payment cards equipped with a chip in the US after notable data breaches took placed at the restaurant chains and big distribution centers. However, this system will not assure that the payment fraud will be eradicated.
Also dubbed as Chip and Pin, the EMV such as Europay, MasterCard and Visa are commonly used in many parts of the globe. In the last 10 years it has been the widely accepted system of payment cards in the European region.
To spur the use of EMV in the nation, branches that offer credit cards are given the chance to make the transformation in October 2015. Those branches who failed to improve their system will be apprehended for fraudulent business deals.