I heard that all merchants' rates should go down because of the new chip cards. True?

-I heard a rumor that all merchants that accept Visa and MasterCard should see a reduction in their rates because of the decrease in fraud with the new chip cards.



Is this true, or a myth? If it's true, does anyone qualify? We're strictly mail/telephone/web order and never see a chip card.



I'm with Global Payments in Canada and am not interested at this time in switching.That is a myth.



I live in the UK, and we are somewhat ahead of you in technology. We now even have contactless credit and debit cards, that you just point at the machine, there is no need to insert the card.



Yes there are higher levels of security, but the merchants have not seen a decrease in their rates, and they do not expect to any time soon.