Credit cards are one of the most convenient ways of paying for the items and services we buy, both offline and online. When travelling, credit cards also provide an extra layer of security to all of our transactions overseas. The use of the EMV chip allows credit card users to avoid transaction fees and save up to 3% every time. Credit card issuers are implementing the new technology to all existing – and new – credit cards right now. Studies by Rutgers Online and the university’s AACSB online MBA department have also revealed that the use of the EMV chip in credit cards had reduced credit card fraud by a whopping 32.5% by 2011. This number continued to rise as well. If your credit cards aren’t equipped with this new chip, now is the perfect time to get them replaced.
Find out more about the EMV chip in credit cards and other important information by reading the full Credit Cards and Mobile Payments Infographic by Rutgers Online.
- This is a PR collaboration.