Visa's acceptance rules, the approval rate for Visa chip ... In California, Connecticut, Florida, Michigan, ... Top Ten
Visa U.S. Chip Update: June 2016 Steady progress in chip adoption
A Visa Chip Card for Every American With more than 326 million Visa chip cards in the U.S. as of June, there are now more chip cards than U.S. residents (an estimated 325 million as of December 2016).¹
350M
326.8M Now more chip cards than U.S. residents
300M
282.9M 240.3M
250M
165.3M
212.7M 200M 150M
180.6M
debit
141.9M
100M 161.5M
credit
50M
Aug
Oct
Dec
Feb
2015
Apr
Jun
2016
Tens of thousands of merchants turn on chip terminals each week The U.S. added more than 100,000 chip-enabled merchant locations in June, bringing the total to 1.3 million, or about 28 percent of the total merchant population in the U.S. More than three-quarters of those chip-ready locations are small and medium-sized businesses.³
1,000K
1,100K 927K
U.S.
326.8M
Brazil
141.3M
UK
118.3M
766K
800K 592K
600K 400K
1,300K
Now more than a million chip merchants!
1,200K
The U.S. is the largest chip market in the world with more cards than the U.K. and Brazil combined, the second and third largest chip markets respectively.²
Top 3 Chip Markets
1,400K
The World’s Largest Chip Market
301K
200K
Aug
Oct
Dec
2015
Feb
Apr
Jun
2016
State of the States for Chip Adoption In California, Connecticut, Florida, Michigan, New Jersey, and Pennsylvania, one in three merchant locations is now chip-enabled. Top Ten States for Chip-Ready Merchants 1. New Jersey 2. Pennsylvania 3. California 4. Connecticut 5. Florida 6. Michigan 7. New York 8. Delaware 9. Ohio 10. West Virginia Penetration of Chip Locations
Chip Merchants See Decline in Counterfeit Fraud
CO
UN FR TE AU R F D EIT
Aug
Oct
231M
263M
345M
483M
Dec
Feb
Apr
Jun
2015
2016
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 in Visa’s acceptance rules, the approval rate for Visa chip transactions overseas is 96.8 percent. Tourists visiting the U.S. are also enjoying a better chip payment experience, as U.S. acceptance for foreign-issued chip cards continues to grow.
20-24%
35% Steady rise in secure chip-on-chip transactions
Number of Visa Chip Payment Transactions
139M
25-29%
U.S. Chip-Enabled Merchants
As more payments are made using secure chip technology, the impact on counterfeit fraud has continued to grow. At chip-enabled merchants, counterfeit fraud dropped 35 percent in March compared to a year earlier.⁴
55M
30%+
96.8%
Sources: ¹U.S. card figures per VisaNet data and operating certificates provided to Visa by client financial institutions as of end June 2016. U.S. Monthly Population Estimates according to the U.S. Census Bureau, Population Division; ²Global card figures per most recently available operating certificates provided to Visa by client financial institutions as of end March 2016; ³US merchant location data based on VisaNet data as of end June 2016; ⁴Counterfeit fraud dollars at U.S. chip-enabled merchants for the month of March 2016 compared to March 2015. Data includes both U.S.-issued credit and debit cards; ⁵Transaction number and volume based on VisaNet data for U.S. locations with chip transactions as of end June 2016.
Chip-on-chip transactions have increased more than 1500 percent year over year. In June, one in four dollars spent in-store on a Visa card was spent with a chip card in a chip terminal.⁵
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