Merchants who accept chip payment cards may see the following benefits:

• Reduced fraud – chip & PIN provides increased protection against the use of lost, stolen, and counterfeit cards, resulting in a reduction of fraudulent transactions and chargebacks
• Operational efficiency – merchants no longer need to store sales drafts for chip & PIN transactions
• Increased speed at check-out – chip & PIN simplifies operations at the point-of-sale as your staff no longer needs to verify signatures; this can result in faster throughput
• Flexibility for future applications – chip offers a platform for the development of enhanced payment features and tools like OneSMART^™ PayPass^™ – the MasterCard^® EMV contactless payment solution