What is Visa doing to tackle payment fraud?
Fraud and business risks are constantly changing. This is why we are continuously working to evolve Visa’s security infrastructure, to develop new security-led products and features and to reduce the impact of fraud when it happens. We do this by working closely with our members, retailers and businesses, developing the tools that support securing transactions. The biggest single factor in reducing fraud has been the introduction of EMV chip and PIN. Since it was introduced in the UK, high street fraud (known as face-to-face fraud) has more than halved. Fraud on lost or stolen cards in particular has fallen dramatically as they become useless for fraudsters who do not possess the correct PIN.