Just one in ten Americans have received chip cards - poll

Just one in ten Americans have received chip cards - poll

America's migration from mag-stripe to EMV is failing to pick up momentum, with just one in 10 people receiving new chip-enabled cards, according to a new poll.

Last year the US accounted for nearly half of all gross losses worldwide on plastic cards as it paid the price of failing to follow much of the rest of planet in introducing EMV standards.

The country is now finally moving to address the issue, with liability for fraud-related losses switching to retailers that have not upgraded their hardware in October and banks vowing to ship out chip cards to customers.

Yet of 1004 people polled by GfK Public Affairs for Associated Press, only about 10% have received a new chip credit or debit card in the mail in the last few months. Of those that have received a chip card, 30% say they do not know how to use it and just 35% have used it in a chip card reader.

In the wake of a series of recent massive, high profile data breaches at the likes of Target and Home Depot, the poll shows that Americans are worried about retailers' ability to keep their data safe. Nearly 40% of respondents are extremely or very concerned about their personal information's security when making instore purchases, rising to 45% for online shopping.

Yet 46% say they do not really understand the reason for introducing chip cards and 22% are not confident that the move will improve payments security.

Comments: (2)

Stanford Rusike
Stanford Rusike - VeriFone (UK) - London 07 August, 2015, 11:05Be the first to give this comment the thumbs up 0 likes

We've known this for a long time, and we know the US EMV roll out will pick up momentum at some point - it has to. What would be interesting for me is to understand what percentage of merchants are ready to accept EMV either as chip + signature or as chip + PIN.. and I'm not just talking EMV acceptance infrastructure! From obscure things like cashier training to more interesting bits and bytes issues like POS integration, EMV keys and terminal configuration management ...

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 07 August, 2015, 19:52Be the first to give this comment the thumbs up 0 likes

Not surprising. US merchants have stalled for 10 years over not adopting 3DS / 2FA for online payments. I didn't expect them to fall head over heels to adopt Chip + Signature / PIN for offline payments from Day One. Perhaps more than merchants in any other country, US merchants know that Mitigating Fraud Does Not Pay The Bills.