Visa: Chip Cards Reduce Counterfeit Fraud At U.S. Merchants By 75 Percent
To that end, Visa said that, as of its latest “Visa Chip Card Update,” as many as 67 percent of storefronts in the United States now accept chip cards.
The company further elaborated that counterfeit fraud dollars at all U.S. merchants slipped 46 percent.
Looking at the Visa chip card count out in the field, June’s number stood at 499.7 million. That’s up from 159 million in September 2015. The 214 percent increase comes as 69 percent of cards, including debit and credit, have chips. Breaking down those segments a bit, the company noted that of total chip cards, credit cards were at more than 210 million — up from 93 million in 2015. The total number of debit cards leaped from 67 million to 289.1 million.