Chase Survey Finds More Education Needed on Chip Cards

Nearly two-thirds of consumers have not heard of chip card technology — also known as EMV — even though 80 percent are concerned about the security of their debit and credit transactions, according to a recent survey commissioned by Chase, which said it will have converted more than 70 percent of its cards to EMV by the end of 2015.

Education helps change perceptions of EMV, the survey showed. Once informed about chip-based technology, 68 percent of consumers favored the shift to chip cards, while 27 percent did not. More than 70 percent of consumers who said they understood EMV said it would help small businesses prevent fraud and make payments easier at the point of sale.