CLEAN : US sellers become liable for fraud unless swap to chip & pin (2)

The video discusses the behavior of transactions at the point of sale (POS) and the importance of merchant data. It explains EMV cards, which enhance transaction security by preventing counterfeit credit cards. The video highlights the EMV migration in the US, starting on October 1st, where merchants and banks must adopt chip card technology to avoid liability for fraud. The migration involves reissuing 1.2 billion cards and updating 6.5 million merchant locations.

What is the role of EMV cards in preventing counterfeit credit card fraud?

What challenges are associated with reissuing the 1.2 billion consumer credit and debit cards?