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Nearly half of U.S. merchant terminals to accept EMV chip in 2015

10/17/2014

New York --At least 47% of U.S. merchant terminals will be enabled for EMV chip technology by the end of 2015, according to the Payments Security Task Force (PST). The estimates are based on forecasts provided by acquirers representing approximately 80% of U.S. purchase volume.



The forecast complements a similar forecast from card issuers in August, where nine of the country’s largest payment card issuers estimated they would issue more than 575 million chip-enabled payment cards by the end of 2015. The PST plans to update both card and terminal forecasts on a quarterly basis.



“This forecast reflects efforts across the industry over the past two years,” said Chris McWilton, president, North American Markets, MasterCard. “Retailers, issuers, acquirers and others have addressed consumer concerns head-on and have begun to make the investments to further enhance the security of their payments. We will continue to work to deliver the same levels of security both in-store and online.”



Formed in March 2014, the task force, which represents a diverse group of U.S. electronic payment industry players, is a collective effort that is initially focused on continuing the momentum of EMV chip implementation in the United States.
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