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 global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $6 trillion in purchases in the US and deploying payments innovations to merchants and consumers. Learn more: www.electran.org.