Visa recently published a report revealing that US merchants that completed the chip upgrade have registered a whopping 66% decline counterfeit fraud in June 2017 compared to June 2015.

According to the report, more than 2.3 million merchants or 55% of storefronts in the US are currently accepting chip cards, a surge of 542% since the beginning of EMV migration in the country.

The firm further reported 190% rise in the number of chip cards, including 64% of Visa credit and debit cards, from 159 million in 2015 to 462 million in 2017.

In addition, chip-based transactions increased from 79 million or $4.8bn in 2015 to 1257.2 million or $59.4bn in 2017.

EMV chip adoption in the country follows a liability shift that took place in October 2015 across the domestic retail sector to prevent fraudulent transactions.

In August last year, debit/ATM network operator PULSE issued a report that showed that US debit card fraud loss rates reduced by 28% in 2016 when compared to 2015, after EMV rollout.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The report stated that 80% of the US debit cards were migrated to chip cards at the time.