Why is the industry moving to Chip?
The move to Chip card technology is the latest innovation in the rapidly–changing debit and credit card environment, and demonstrates the industry’s efforts to further secure Canadian electronic payments. Migration to Chip technology brings with it a number of benefits, both to consumers and merchants. Perhaps the most important benefit that Chip cards bring to the Canadian marketplace is the added security. Chip cards are credit and debit cards with computer chips embedded in them, making them more difficult to copy, thereby reducing counterfeit fraud.
