Editing EMV (section)

==Online, phone, and mail order transactions==
While EMV technology has helped reduce crime at the point of sale, fraudulent transactions have shifted to more vulnerable [[telephone]], [[Internet]], and [[mail order]] transactions—known in the industry as [[card not present transaction|card-not-present]] or CNP transactions.<ref>{{cite web |last1=Carlin |first1=Patricia |title=How To Reduce Chargebacks Without Killing Online Sales |url=https://www.forbes.com/sites/forbesfinancecouncil/2017/02/15/how-to-reduce-chargebacks-without-killing-online-sales/#61246fcc1cb0 |work=[[Forbes]] |date=February 15, 2017}}</ref> CNP transactions made up at least 50% of all credit card fraud.<ref>{{cite news| url= http://news.bbc.co.uk/1/hi/technology/8046492.stm| title=BBC NEWS – Technology – Credit card code to combat fraud| work=bbc.co.uk}}</ref> Because of physical distance, it is not possible for the merchant to present a keypad to the customer in these cases, so alternatives have been devised, including

* Software approaches for online transactions that involve interaction with the card-issuing bank or network's website, such as Verified by Visa and Mastercard SecureCode (implementations of Visa's [[3-D Secure]] protocol). 3-D Secure is now being replaced by [[Strong Customer Authentication]] as defined in the [[Payment Services Directive#Revised Directive on Payment Services (PSD2)|European Second Payment Services Directive]].
* Creating a one-time virtual card linked to a physical card with a given maximum amount.
* Additional hardware with keypad and screen that can produce a [[one-time password]], such as the [[Chip Authentication Program]].
* Keypad and screen integrated into complex cards to produce a [[one-time password]]. Since 2008, Visa has been running pilot projects using the Emue card where the generated number replaces the code printed on the back of standard cards.<ref>{{cite web
 |url=http://www.itpro.co.uk/608112/visa-tests-cards-with-built-in-pin-machine
 |title=Visa tests cards with built-in PIN machine| work=IT PRO|date=11 November 2008 }}</ref>

As for which is faster, ''[[The New York Times]]'' explained that it's a matter of perception: While the chip method requires that the chip stay in the machine until the transaction and the authorization process is completed, the phone swipe method does the authorization in the background; a receipt starts coming out right away.<ref name=PercepNYT>{{cite news
 |newspaper=[[The New York Times]]
 |url=https://www.nytimes.com/2016/05/05/technology/personaltech/in-the-race-to-pay-mobile-wallets-win.html
 |title=Why Apple Pay and Other Mobile Wallets Beat Chip Cards
 |author=Brian X. Chen  |date=4 May 2016 |access-date=31 July 2022}}</ref>