Contactless Smart Cards, RFID, Payment, Transit and Security

EMV popular among Asia Pacific security experts

Monday, June 8, 2009

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.”

Read more here. [end] 

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