Visa recently released a report called, "Visa Recommended Practices for EMV Chip Implementation in the U.S.," as a follow up to the plans they announced last summer to accelerate the adoption of chip and mobile payments.

In the new report, Visa outlined the most efficient and cost effective ways for U.S. merchants and financial institutions to implement EMV chip technology, which they say will enhance international payment acceptability, improve fraud prevention and accelerate the adoption of NFC-enabled mobile payment devices.

Visa recommends that vendors implement an online-only version of EMV chip technology for best authentication and authorization practices. Merchants can use online payment processing to get real-time approval from the issuer on transactions made using EMV chip cards. Using chip technology also enables vendors to offer flexible safeguards for card holders, not requiring a signature for low-risk transactions as well as using PINs.

Merchants can benefit from the credit card fraud protection of using chip cards. The EMV chip technology uses tokenization solutions to encrypt a card's information. Beginning in October, vendors will have added incentive to adopt the new technology. If 75-percent of their registers accept EMV chip cards, they can bypass PCI compliance requirements. 

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