MasterCard released their latest EMV data earlier today. Since the EMV liability shift in October of 2015, nearly 80 percent of U.S. consumer credit cards are currently chip-enabled. And, there are also roughly 1.7 million active EMV terminals in their network, which accounts for 30 percent of the U.S. merchant population, resulting in a 374 percent increase.
According to MasterCard, their top five EMV-enabled merchants said that, in terms of U.S. dollars, they have seen a major decrease in counterfeit fraud – over 60 percent, to be precise.
“MasterCard has helped over 150 countries adopt EMV, and time and again, we’ve seen the same result: significant reductions in counterfeit card fraud,” Chiro Aikat, SVP of product delivery for EMV at MasterCard, said in a press release. “The U.S. is one of the most complex markets in the world, and great progress has been made in securing our payments ecosystem in a short amount of time. It’s rewarding for the industry to start seeing signs that merchants, issuers and consumers can be freed from the burdens of card fraud.”