EMV Chip Education on Visa - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » EMV Chip Education on Visa

EMV Chip Education on Visa

EMV Chip Education on Visa
Tags: , , ...
October
24

Visa has partnered with financial institutions and merchants around the country to launch a national awareness campaign aimed at educating both consumers and merchants about the new EMV and chip cards being rolled out.

In a study by Visa, 52% of people and 84% of small- and medium-sized merchants indicated that they are aware that the new technology is coming and felt that it could increase credit card security. “The adoption of chip technology has the potential to virtually eliminate counterfeit fraud when widely adopted, and will help consumers feel more confident about using their payment cards,” said Ellen Richey, chief enterprise risk officer of Visa.

Education, education, education

The campaign’s kick off includes the roll out of Visachip.com, a microsite designed to educate consumers on the new technology. The site provides people with information on the benefits of EMV cards, as well as how-to demos so consumers know how to use the new cards when they checkout.

When the new cards are sent out, the package will include special educational materials so cardholders will know how to use them. People will also find special materials at registers letting them know the ins and outs of using the new cards.

They will also work with local chambers of commerce to have town hall sessions, offering hands on demonstrations on how to use the technology.

Merchant education includes partnering with merchant trade groups in order to educate small- and medium-sized businesses about the technology and how to process the new cards.

As part of the initiative, Visa has teamed up with organizations like Bloomberg Government and The Center for Democracy and Technology to help educate business and policy leaders about the new security measures. 

Consumers want to know more

With retail security breaches fresh in consumers’ minds, Visa’s study found that consumers want to know more about EMV technology and how to use it.

Yet only a third (33%) said they felt confident that if their issuer gave them a chip card today they could use it at the register with little or no issues.

The study also found more than half of the people surveyed know that this technology can enhance security, and of those who know about its security benefits, 73% believe it is better at keeping their data safe than cards outfitted with magnetic strips.

The national telephone polled 1,000 credit or debit cardholders from September 18 to 21. They also spoke with merchants with annual revenues between $100,000 and  $24,999,999.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Credit and Debit Card Spending Up
Credit and Debit Card Spending Up

Posted: April 09, 2015

Last year people spent $196 billion in debit and credit card transactions at merchants across the globe, according to a new Nilson Report. Spending on cards was up 14% over the year before. Continue reading
Credit Cards Continue To Rally
Credit Cards Continue To Rally

Posted: June 08, 2015

Across the board U.S payment cards of all kinds continue to be hot with consumers last year, according to a new study. But when push came to shove, credit cards outperformed debt and prepaid cards. Continue reading
American Express and Costco to Break Ties
American Express and Costco to Break Ties

Posted: February 17, 2015

American Express and Costco are ending their relationship, with the split slated to take effect on March 31, 2016. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
We'll match all the Miles you've earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
For Excellent, Good Credit
Our application is quick and easy with instant pre-qualification available
For Fair / Good Credit