With tens of thousands of merchants activating chip payment terminals each week, the United States is currently considered the largest chip market in the world. As secure chip transactions continue to rise, so too does the number of Visa chip payment transactions.
U.S. consumers are using their Visa chip cards to make transactions securely and with convenience both domestically and abroad. The approval rate for Visa chip transactions has risen to 96.8 percent thanks to certain enhancements in Visa’s acceptance rules. As the market changes, this trend is more than likely to result in increased secured transactions for consumers and lower fraud costs for merchants and financial institutions. Visa has served as a driving force behind increased awareness and acceptance of EMV and EMV solutions.
- At the end of the month of June, Visa released a report that concluded that there are currently 326.8 million chip cards in the U.S. market, which is much higher than the actual number of residents. This article examines that data collected by Visa and their efforts to enhance EMV.
- Visa is taking a vocal stance that more places should be chip card friendly. With terminal certification as a huge barrier to making this a reality, Visa has announced a series of initiatives designed to change that.
- Visa issued a report with numerous EMV-related data. This article takes a look at that data and summarizes the key takeaways.
- Here are 8 things that every credit union should know when it comes to EMV compliance at the ATM.