Visa Report: 3.7 Million Merchant Locations Accept EMV Cards
9-9-2019
The number of locations that accept EMV cards in the United States increased from 3.1 million to 3.7 million during the first six months of 2019, according to an infographic recently released from Visa. In total, some eight in ten storefronts now accept chip cards, an increase of 12 percent since December 2018.
Banks issuing Visa cards put 10 million EMV-enabled cards in the hands of American consumers between December and June 2019, Visa said. That brings the total number of chip cards in circulation to 521.7 million in the U.S., or 72 percent of total Visa credit and debit cards.
Overall U.S. payment volume is overwhelmingly spent on EMV cards; 99 percent of overall volume in June 2019 occurred on EMV cards.
Unsurprisingly, counterfeit fraud losses continue to drop. According to Visa, fraud losses have dropped 87 percent since September 2015 for merchants who have completed the chip upgrade, and 62 percent for all U.S. merchants. Card-present fraud overall has declined 40 percent, Visa said.
Click here to view the infographic.
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.
Related Posts
News
Revolv3 Wins the Electronic Transactions Association’s Award for “Best ETA Top 10 Payments ISVs”
2-21-2024
learn more
News
Just the FACs: Scale Your Business with PayFac 2.0
Trends come and go in the payments industry. Payment facilitation followed a predictable trajectory, from the gold rush fever of early implementations to mass disillusionment as major players grabbed market share. In their wake, merchant . . .
3-22-2023
learn more