Chip-on-Chip Nears 50% of Transactions
7-28-2016
From October 2015 to June 2016, both consumer and merchant EMV card activity have increased exponentially, according to the recently released CardFlight EMV Migration Tracker Report.
ETA-member company CardFlight analyzed hundreds-of-thousands of transactions across all 50 states to assess the frequency with which chip-cards are being used in chip-readers versus chip-cards being swiped or non-chip cards being swiped. The data shows that on the October 1, 2015 EMV migration date, only 2% of transactions were chip-on-chip. As of this June, 46% of transactions were chip-on-chip, and 70% of the cards presented to merchants were chip-cards. By the end of 2016, CardFlight anticipates that 85% of cards presented to their merchant-customers will be chip-cards, and that 80% of all card purchases will be made through secure chip-on-chip transactions.
Access the full CardFlight EMV Migration Tracker report here.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.