Participants at Visa’s Asia Pacific Security Summit 2009 in Malaysia see EMV chip cards as helping to drive the future of electronic payments and minimize counterfeit fraud. According to a survey taken during the summit, 75% of the security experts attending say they have EMV-compliant cards in their wallets.
Additionally, the poll revealed that with EMV taking hold in the region, just five percent of those polled now feel that counterfeit fraud is a top security concern.
Mike Smith, Visa’s regional head of risk management for Asia Pacific said that even though 27% of all Visa cards in the Asia Pacific region are chip-enabled, the fact that 75% of the payment security experts who attended the summit saying “they carry a chip card in their wallets…this is a strong industry endorsement of the value and benefits of EMV chip technology.”
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