Credit card fraud is a serious problem in our country, but the payments industry is aiming to tackle fraud in the U.S. through the roll out of EMV card technology.
This morning on The Rhode Show we discussed what EMV chip cards will mean for consumers and small merchants.
Gene Marks writes small business columns which appear in several publications, including the Washington Post, the New York Times and Forbes.
Marks, has also written several best-selling books, including “in god we trust, everybody else pays cash.”
He says many of us will be getting new cards in the mail soon with this technology and that the credit card companies will be working with the small business owners to get the new card machines into their business.
American Express has committed up to $10 million in reimbursements to fight fraud and help adopt the EMV technology.