EMV Credit Cards Interview with ABC News Radio
CreditCards.com Senior Industry Analyst Matt Schulz spoke on Friday, October 2, 2015 with Daria Albinger of ABC News Radio about the September 2015 EMV Credit Cards survey. The interview and transcript are below.
Daria Albinger: It’s your money. By tomorrow merchants must have the technology to take the new chip-enabled credit cards, also known as EMV or smart cards. CreditCards.com Matt Schulz says they prevent fraud by creating a unique transaction code every time you make a purchase.
Matt Schulz: If a bad guy were to steal that code and try to use it to make another purchase, it wouldn’t work. It would be akin to stealing an expired password.
Albinger: But only six out of 10 Americans who have credit cards have the new smart card. Daria Albinger ABC News.