MasterCard: U.S. Consumers and Merchants Benefit from Security of Chip
30 September 2015 - 11:54PM
Business Wire
40 Percent of Credit Cards With Chip Show Migration Well
Underway
With just hours before the October 1 liability shift, new
data from MasterCard reveals that 40 percent of all U.S.
MasterCard-branded consumer credit cards feature EMV chip
technology.
According to a Payments Security Task Force forecast announced
earlier today, 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 data proves that the shift to chip in the U.S. is a
reality. We're incredibly encouraged by the tremendous progress
across the industry, knowing that consumers are ultimately the ones
who will win," said Chris McWilton, president, North America
Markets, MasterCard.
Not only are consumers beginning to carry chip cards in their
wallets, they are able to use them at more and more merchants
around the country. 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.
"Consumers are ready for the new chip cards. In fact, 75 percent
of cardholders agree the increased security of the chip cards
greatly reduces the ability for thieves to copy or use their cards
for unauthorized purchases," said McWilton.
About MasterCard
MasterCard (NYSE:MA), www.mastercard.com, is a
technology company in the global payments industry. We
operate the world’s fastest payments processing network,
connecting consumers, financial institutions, merchants,
governments and businesses in more than 210 countries and
territories. MasterCard’s products and solutions make everyday
commerce activities – such as shopping, traveling, running a
business and managing finances – easier, more secure and more
efficient for everyone. Follow us on
Twitter @MasterCardNews, join the discussion on the
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version on businesswire.com: http://www.businesswire.com/news/home/20150930006117/en/
MasterCardJim Issokson,
914-249-6296james_issokson@mastercard.comorSeth Eisen,
914-249-3153seth_eisen@mastercard.com
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