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By Ethan Wolff-Mann
December 11, 2015
Square

Many shoppers are leaving themselves exposed during the holiday shopping season. According to Square, a payment platform that handles around $32 billion per year, less than 50% of the cards that passed through their system last month were EMV cards, which offer increased security via a built-in chip.

This means that a significant amount of consumers who could be enjoying increased security simply aren’t.

Now, as a consumer, you’re only on the hook for $50 maximum, provided that you catch the credit card fraud. That’s not nothing—nor is the hassle of getting a new card and having your personal data stolen.

But that’s only credit cards. If a debit card is used fraudulently, you could be on the hook for more if you don’t immediately tell your bank.

It pays to have the extra security. So if you haven’t received a new EMV card yet, contact your card issuer.

Advertiser Disclosure

Money has partnered with CardRatings.com and ConsumersAdvocate.org, among other companies, for our coverage of credit card products. Money, CardRatings.com, and ConsumersAdvocate.org may receive a commission from card issuers. For example, Money receives a commission from Citi when you apply and are approved for a Citi product through the links on this site.

Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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