Millions of chip cards and chip-ready merchants make payments safer across the U.S.
The U.S. migration to chip technology continued onwards and upwards in the first quarter of 2016. Just six months out from the liability shift and we have already hit some impressive milestones. With more than 265 million Visa chip cards in circulation, the U.S. is the largest chip market in the world, and by a large margin. The U.S. is now home to more than a million chip-enabled merchant locations, and more than three-quarters of those locations are small and medium-sized businesses.
Chip Technology Gains Ground in the U.S.
0 25 50 75 100 125 150 175 200 225 250 275 (Million)
42.5M Spain
44.7M France
49M Canada50.8M Russia
80.9M M
exico
90M
Japa
n
121M
UK
145.
8M B
razi
l
265M
U.S
.
Glo
bal C
hip
Card
s
May, 2015
July, 2015
September, 2015
November, 2015
January, 2016
March, 2016
1.4B
2B
4.8B
12.1B
13.4B
18.4B
Number of Visa Chip Payment Transactions Visa Chip Payment Volume
79M
176M
220M
303.3M
International Travel Has Never Been Easier with Chip Cards
More and more U.S. consumers are using their Visa chip cards to transact conveniently and securely around the world. Thanks to enhancements to Visa’s acceptance rules, the approval rate for Visa chip transactions overseas is over 96.6 percent. Tourists visiting the US are also enjoying a better chip payment experience, as U.S. acceptance for foreign-issued chip cards continues to grow.
96.6%
Sources: 1. U.S. card figures per VisaNet data and operating certificates provided to Visa by client financial institutions as of end March 2016.2. Global card figures per most recently available operating certificates provided to Visa by client financial institutions as of end December 2015.3. Top five merchants by counterfeit fraud volume.4. US merchant location data based on VisaNet data as of end March 2016. 5. Transaction number and volume statistics based on VisaNet data for locations with chip transactions as of end March 2016.
25.2M
32M
Counterfeit Fraud Shifting Away from Chip-Enabled Merchants
When business owners activate chip terminals, they send a clear message to fraudsters: we’re doing our part to put a stop to counterfeit fraud. And that message is already having an impact on counterfeit fraud rates, which are declining month-over-month for many large merchants with activated chip terminals.
From Q4 2014 to Q4 2015, counterfeit fraud at the top five chip-enabled merchants decreased by more than 18 percent.
More than three-quarters of today’s chip-enabled merchant locations are small and medium-sized businesses.
⁄
18%COUNTERFEIT
FR AUD
Top Five Chip-Enabled Merchants
Chip Activated Merchant LocationsVisa Chip Cards Issued
In March, Visa chip debit cards (133.9M) surpassed chip credit cards (131M) for the first time.
May Jul Sep
2015 2016
Nov Jan Mar
50M
100M
150M
97.2M
126.9M
159.3M
195.4M
217.4M
265M
200M
300M
250M
200K
400K
600K
800K
1,000K
1,200K
May Jul Sep
2015 2016
Nov Jan Mar
1,025K
214K
295K
397K
690K
843K
Nowmore than
a million chipmerchants!
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