MasterCard: Chip Migration Well Underway
Just before the October 1 liability shift, new data from MasterCard revealed that 40 percent of all U.S. MasterCard-branded consumer credit cards feature EMV chip technology.
According to a Payments Security Task Force forecast, the number of chip cards in the U.S. will to grow to 60 percent by the end of this year, expanding to 98 percent by the end of 2017.
The company reported tens of millions of chip transactions in September alone at the more than 350,000 national merchant locations accepting the new cards. One-quarter (26 percent) of national and regional merchants – stores and restaurants with multiple locations – have started to accept chip cards.
According to a Payments Security Task Force forecast, the number of chip cards in the U.S. will to grow to 60 percent by the end of this year, expanding to 98 percent by the end of 2017.
The company reported tens of millions of chip transactions in September alone at the more than 350,000 national merchant locations accepting the new cards. One-quarter (26 percent) of national and regional merchants – stores and restaurants with multiple locations – have started to accept chip cards.