As EMV migration and adoption accelerate throughout 2016, an increase in Card Not Present fraud is inevitable. EMV shifts caused considerable spikes in CNP fraud in Canada and Europe more than a decade ago when mobile shopping didn’t even exist, and the ramifications for the U.S. could be enormous.
The shift to EMV is adding complexity and cost for card issuers and it’s only going to tackle part of the problem around payments fraud. That’s according to Render Dahiya, CEO of Arroweye Solutions at least.
It’s been a little more than a year since payment-card fraud liability shifted from card issuers to retailers—and in that time, the majority of EMV news has focused on the growing pains of transition. That includes the slow certification processes,