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In recent years, there have been reports of EMV card readers being tampered with during or shortly after manufacture in China. This has led to concerns about the security of credit card transactions. To combat this issue, Visa has been running pilot projects using the Emue card, which generates a one-time password.

The Emue card features a keypad and screen that produces a one-time password for online transactions. Additionally, there are hardware approaches such as the Chip Authentication Program, which can also produce a one-time password. Another approach is creating a virtual card backed by a physical card with a given maximum amount.

For online transactions that involve interaction with the card-issuing bank or network's website, software approaches like Verified by Visa and Mastercard SecureCode (implementations of Visa's 3-D Secure protocol) have been developed. However, because of physical distance, it is not possible for merchants to present a keypad to customers in these cases.

As a result, alternative methods have been devised to combat credit card fraud. In May 2009, CNP transactions made up at least 50% of all credit card fraud. 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 or CNP transactions.

In the past, merchants had to thumb through a booklet each time a credit card was presented for payment prior to approving the transaction. This incurred a short delay. The list of invalid numbers was commonly printed in booklet form on newsprint, in numerical order. During the 1970s, many merchants subscribed to a regularly-updated list of stolen or otherwise invalid credit card numbers.

Under the previous system, customers had to hand their cards to sales clerks to pay for transactions. Merchants used mechanical portable card imprinters that required carbon paper to make an imprint. With the introduction of EMV technology, credit card transactions have become more secure, making it harder for criminals to commit fraud.

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