U.S. Chip Cards Out-Number Americans
7-27-2016
Data on EMV market-penetration details that 326.8 million chip cards have now reached American wallets – a number which, in fact, exceeds America’s population, and puts the U.S. in the lead as the number-one chip card market, significantly outpacing the second and third largest markets, Brazil and the U.K. respectively.
Visa’s U.S. Chip Card Update further reveals that 1.3 million merchants are now accepting EMV payments, with three-quarters of those being small-to-medium businesses. The merchants employing EMV technology have reported a 35% year-over-year decline in fraud.
View the EMV infographic from Visa 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.