Nearly Half of U.S. Merchant Terminals to Accept Chip in 2015
Acquirer Projections for Largest Payment Market’s Merchants Indicate Strong Momentum Toward Enhanced Security
The Payments Security Task Force (PST) today announced a forecast of participating acquirers who estimated that at least 47 percent of U.S. merchant terminals will be enabled for EMV chip technology by the end of 2015. The estimates are based on forecasts provided by acquirers representing approximately 80 percent of U.S. purchase volume.
Organizations participating in the forecast include First Data, Bank of America Merchant Services, Citi, Chase Paymentech, Vantiv, Elavon, Wells Fargo and Global Payments.
Today’s announcement 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.”
Read the full press release.
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