Why is Interac Association moving to chip?
The movement to chip card technology is part of Interac Association’s long-term commitment to providing secure and innovative services. Chip technology is a new generation of payment card technology that will make it virtually impossible for fraudsters to duplicate cards and card information — promoting consumer confidence in the payment system. Interac Association is taking a leadership position by proactively migrating to chip technology to protect the Canadian payments system against fraudsters who are leaving countries that are chip-based in search of those that have not yet transitioned.
