The United States has become a global hot spot for payment (credit and debit) card fraud, with a notable portion of fraud incidents in the European Union (EU) linking back to the United States, particularly within the e-commerce ecosystem. In this paper we discuss the emergence of EMV (Europay, Mastercard and Visa) technology and its adoption in EMV payment cards, and the effectiveness of EMV cards in managing credit card fraud in the United States and EU. We cover the challenges and barriers faced during the implementation of EMV in the United States, as well as the lessons learned from Europe’s earlier adoption. We also provide insights into the potential strategies and best practices to combat payment card fraud in the United States and EU. Ultimately, this study aims to contribute to the ongoing efforts to enhance the security of payment card transactions, protect consumers and maintain the integrity of the global financial ecosystem.