575 Million U.S. Payment Cards to Feature EMV by 2015

August 14, 2014 –   More than 575 million U.S. payment cards will offer EMV chip security by the end of 2015, according to the Payments Security Task Force (PST) established by Visa and MasterCard.  The initial hesitation of many financial institutions to move to EMV, borne out of various unresolved issues related to the technology, appears to have given way largely because of the 2013 Target retail breach. Recent research from Pulse estimated 86 percent of U.S. institutions plan to start issuing EMV-based chip cards within the next two years. Nine PST members have projected that 50 percent of their cards will be EMV-enabled by the end of next year.

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About ETA

The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $4.5 trillion in purchases in the U.S. and deploying payments innovations to merchants and consumers.