CardFlight, a mobile point of sale (POS) technology provider, released the latest edition of their EMV Migration Tracker with never before published data and trends covering EMV chip card usage in the U.S.
The report shares insights on EMV chip card use among card holders and merchants in the United States since October 1, 2015 liability shift.
The latest data and trends shown in the latest CardFlight EMV Migration Tracker:
56% percent of cards in use in February contained EMV chips, up from 46% in October 2015
American Express leads the way in EMV chip card usage, with over 88% of their cards containing EMV chips
California, Florida and Arizona lead the way in EMV issuance, with over 60% of cards in use in those states containing EMV chips
Some industry verticals see at least 75% of cards presented containing EMV chips, putting those merchants at highest risk for EMV-related chargebacks if they have not upgraded
While EMV chip card technology has been implemented in Europe and other parts of the world for more than a decade, the rollout of EMV in the U.S accelerated more recently, with a liability shift introduced in October 2015. Since October, merchants who have not upgraded to accept EMV chip card transactions can become liable for counterfeit card fraud losses that occur at their stores with chip-enabled cards.
"Migrating to EMV chip card technology gives us a more secure system that will significantly reduce fraudulent charges on card present purchases," said Derek Webster, CEO and Founder of CardFlight. "The latest version of the CardFlight EMV Migration Tracker shows that the adoption of EMV technology in the U.S. is accelerating."
As one of the first mobile point-of-sale providers who deployed EMV-enabled solutions in the United States, CardFlight has been a leader in bringing EMV payment acceptance solutions to merchants. The CardFlight EMV Migration Tracker represents another effort by CardFlight to share their data, insights and best practices regarding EMV migration with the payments industry. Other efforts by CardFlight include hosting a series of educational webinars sharing latest data and trends.