Visa takes low key approach to smart cards

Visa International says that it is sitting back and responding to members requests, rather than trying to lead the way with the introduction of smart cards. ANZ Bank is the only bank in Australia to introduce Eftpos terminals able to read smart cards but has issued few chip card-based credit cards to customers. From 2006, the card issuing bank may become liable for any credit card fraud, rather than the merchant’s bank, if a credit card is not also a smart card.