04 September 2003 12:00am

The business case for migration to the EMV standard for chip-based credit card payments in Australia remains weak, due to a low incidence of credit card fraud and high costs of conversion of terminals and credit cards.

At the Cards Australasia conference held in Melbourne yesterday, Vipin Kalra, head of chip cards in Australia and New Zealand for Visa International, said that, "The business case in Australia will be challenging for quite some time, unless Australia is bitten by a major fraud. Fraud alone cannot justify the cost of EMV."

Kalra estimated credit card...