Eighty Percent of Mastercard U.S. Consumer Credit Cards Have Chips

August 3, 2024         By: Mike Dautner

Mastercard announced recently that 80 percent of its U.S. consumer credit cards have chips, which represents an 88 percent increase in chip card adoption since the October 1, 2024 liability shift started to bring EMV-secured payments to the U.S.

The company in addition sees 1.7 million chip-active merchant locations on its network, which represents almost 30 percent of the U.S. merchant of the U.S. merchant population and a 374 percent increase in chip terminal adoption since the liability shift.

In regards to U.S. dollars, counterfeit, card fraud has dropped to 60 percent at Mastercard’s top 5 EMV-enabled merchants.

“Mastercard has helped over 150 countries adopt EMV and, time and again, we’ve seen the same result: significant reductions in counterfeit card fraud,” said Chiro Aikat, senior vice president of product delivery – EMV for Mastercard. “The U.S. is one of the most complex markets in the world and great progress has been made in securing our payments ecosystem in a short amount of time. It’s rewarding for the industry to start seeing signs that merchants, issuers and consumers can be freed from the burdens of card fraud.”

In April, Mastercard introduced M/Chip Fast, a new application based on contactless or ‘tap-and-go’ technology, designed to speed EMV transactions by prioritizing the steps critical to safety and security.

Users can expect to experience a faster speed closer to the likes of the former magnetic stripe transactions with the added security of EMV.

“We’re known for having the riendliest cashiers in town and now we have faster checkout too,” said Sean Teisher, New Seasons Market. “With this new technology from our partner Index, our customers can just dip their chip card and remove it—it’s simple, fast and friendly.”