Credit and debit cards now have EMV chip technology, the global standard for card payments that significantly reduce fraud. Many card users are familiar with this technology, but do we really know how it works?

According to a report released on August 12 and made by Forrester Research, more than three-quarters of companies are investing in new payment technologies, the report “Understanding the Evolving Payments Landscape” says that retail merchants and online businesses expect the way that consumers pay for goods to change relatively quickly with about half expecting to face increasing choices in payment offerings. At the same time, 61% of financial institutions and merchants believe that fraud will also increase.