In this push to move to more secure card, it should be advised that most of these new cards are being cloned as fast as magnetic strip cards. In Europe when they went to the "smart card" the fraud on cards actually went up. To clone a mag-stripe card cost about 24 dollars on the internet for the equipment, to do a smart card it used to take over a thousand dollars, now it is down to around 95 dollars. The new cards are better no doubt, but they are not a silver bullet to cut out fraud. It is still a cost benefit analysis as to its strength vs security provided.
from CTI Consulting http://ift.tt/2sY6PZY