Eight financial institutions, representing approximately 50% of the total US payment card volume, estimate that 63% of their credit and debit cards will contain EMV chips by the end of 2015, expanding to 98% by the end of 2017.
A similar survey of acquirers participating in the Payments Security Task Force reinforces the November 2014 forecast that at least 47% of US merchant terminals will be enabled for EMV chip technology by the end of 2015.
The Payments Security Task Force was formed in early 2014 to drive executive-level discussion for the purpose of boosting payments system security. The Task Force includes a diverse group of participants in the US electronic payments industry, including payment networks, banks of various sizes, credit unions, acquirers, retailers, point-of-sale device manufacturers and industry trade groups.
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