A new technology with the name EMV is said make it tougher for thieves to steal data. The EMV chip will be embedded in credit cards. It is said that with the adoption of the EMV technology, a decline will come in credit card fraud rates. But as per a new study by NerdWallet, there are more chances of opposite to take place as criminals will look out for other ways to commit card fraud.

EMV (Europay, MasterCard, and Visa) chip is the small silver or gold chip set in front of the card. There is a difference between EMV chip card and a standard card. In the magnetic stripe cards, static payment data can be transferred from one card to another. But such is not the case with the EMV chip card.

“EMV chips creates a unique payment code with every use, so if a fraudster was able to steal those payment credentials, they’d be worthless for any other purchase”, said Sean McQuay, NerdWallet’s credit card expert.

But as per the research, EMV would not solve the entire problem. From October, the onus of credit card fraud will switch from issuers to the party, which can be issuer or merchant, who do not use EMV technology, and the change is known as liability shift.

McQuay said that EMV technology is powerful, but only when both consumers and merchant adopt it. If just one of the parties has upgraded for EMV then upgrade is nothing but a waste. Also, the technology is restricted for in-person transactions.

There are chances that fraud may take place to transactions where the physical card is not needed like purchases through phones or online. But there are ways by which you can protect yourself from fraud like use card’s chip to keep data safe and try purchasing only from brick-and-mortar merchants that have EMV technology. To avoid fraud online, avoid shopping on unfamiliar or unsecure websites.