EMV gains momentum in the US

The adoption of EMV in the US continues to go from strength to strength, according to a new Mastercard report.

Mastercard said in an update that more than two-thirds of MasterCard-branded cards issued in the US now had chips embedded and this represented a 51 per cent increase in the number of consumer credit cards with chips in market since the October 1, 2015 liability shift.

Consumers can use their chip cards in more places, as 1.2 million US merchant locations – an increase of 121 per cent – have turned on their terminals and are accepting chip card payments.

In addition to national retail chains, approximately one million local and regional merchant locations are accepting chip cards.

In 2015, the Payments Security Task Force projected that 98 per cent of cards issued in the US would feature chip technology by the end of 2017. This would top adoption rates by regions and countries that began implementing chip technology decades ago.