Chip cards have proven to be super effective in fighting fraud abroad. They've been particularly successful in Europe, where roughly 90 percent of credit card terminals are now EMV-enabled. The UK, for example, has seen a nearly 70 percent decline in counterfeit card transactions since adopting chip cards, according to Barclays. Similarly, in Canada, research firm Aite Group reports that losses from counterfeit, lost, and stolen cards dropped from 245 million Canadian dollars in 2008 to 111 million in 2013.