Fraud navigator targets fallback fraud with speed and precision

April 18, 2017 by CO-OP Financial Services

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According to VISA, as reported to PYMNTS.com, merchants that accept EMV chip cards have seen counterfeit card fraud drop by 52 percent year over year.

In another recent PYMNTS.com article, MasterCard reported that, among the company’s top five EMV-enabled merchants, counterfeit fraud has dropped by more than 60 percent. And in more than 150 countries where MasterCard has helped merchants enable EMV, the company has reportedly “seen the same result: significant reductions in counterfeit card fraud.”

While card-present fraud is expected to drop even more here in the U.S. thanks to EMV security, in the meantime issuers, merchants and consumers alike are grappling with a relatively common by-product of the technology: the fallback.