There is something that has been bothering me about the whole EMV Chip thing - ie that it was going to put an end to fraud. This article finally nailed it for me!
Fraud will more likely increase, rather than decrease, as it will move to the online arena from the direct retail sale. But I think the fraud will involve "quick turnaround" transactions - ie buy something from Amazon and have it shipped overnight. I doubt someone is going to use a credit card to make a reservation 2 weeks in advance (probably my avg lead time). If they did, you'd simply refund the same card - NEVER refund using anything else - eg check.
If I think this thru, I won't change my practices at all - ie I try to have no physical contact with the card. Our customers either book directly online or call us and we enter the card info. We charge the entire balance before the guest arrives.
Also, I've got to believe that the CC companies will be using enhanced filtering processes and procedures. For example, you'll need not just the CC #, exp date, and CCV. That info will now be cross referenced with mailing address, phone #, and other info that we would collect from a reservation.
It seems to me that the risk of Hotels and B&Bs being frauded exists whether a card is present or not. I guess we could ask guests to show us the EMV card they used to make the reservation but still wouldn't need to swipe it.
The way I look at it is that this is a much bigger problem for Amazon, ebay, OTAs, etc. They'll figure out how to fix it.
Am I missing something?