MasterCard Consumer Chip Cards Surge In The U.S.

August 4, 2016/0/0

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.”

Read the full MasterCard Press Release.