Card-Not-Present Fraud Rates in the United States After the Migration to Chip Cards

Fumiko Hayashi

Payments System Research Briefing, 2025, 7

Abstract: Unlike many other countries, the United States did not see a surge in the “card-not-present” fraud rate immediately after migrating to chip-card technology. Instead, the U.S. card-not-present fraud rate of non-prepaid debit cards has increased gradually over the past decade. Merchants’ and cardholders’ card-not-present fraud loss rates have increased for both dual- and single-message networks, while issuers’ card-not-present fraud loss rate has increased for single-message networks.

Date: 2025
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