Purchase, N.Y. – September 12, 2016 – As the one year anniversary of the shift to chip approaches in the U.S., Mastercard today unveiled data confirming the positive impact the technology is having on issuing banks, merchants and consumers. To date, chip adoption continues to grow:
- As of July 2016, 88 percent of Mastercard U.S. consumer credit cards have chips, representing a 105 percent increase in chip card adoption since the October 1, 2015 liability shift.
- The company also sees 2 million chip-active merchant locations on its network, a 468 percent increase in chip terminal adoption since October 1, 2015. Two million merchants represent 33 percent of all U.S. merchants.
- Of the 2 million chip-active merchant locations, 1.3 million are regional and local merchant locations, representing a 159 percent increase since October 1, 2015.
“Since 2012, Mastercard has championed chip technology. We need chip cards in wallets and chip terminals at checkout to continue to drive card fraud out of the U.S. This country is one of the most complex markets in the world so we know things won’t change overnight,” said Craig Vosburg, president of North America for Mastercard. “However, we’re encouraged by the significant progress over the last 11 months. With every additional chip transaction we move closer and closer to our collective goal – moving fraud out of the system.”