Visa, in their monthly update on EMV, announced that merchants using EMV, chip enabled terminals account for 46% of all the companies in-store payment volume.
Visa also announced that their year over year increase in chip-on-chip transactions was up 359% this last November.
These numbers all point to a much greater penetration of EMV compliance across the US, and because Visa is the largest card network in the US, these numbers could serve as a benchmark for the progression of the US EMV migration across the industry.
As these numbers rise, they point to a growing acceptance from both consumers and merchants.
• Consumers: Visa’s 400 million chip cards issued in the US represents a 105% year to date increase. This represents a 47% of Visa’s total US cards. Consumers also seem to be adjusting to the dipping and not swiping change with less confusion. Visa also conducted a separate survey of consumers that found 35% of consumers believe that chip cards are now the safest way to pay.
• Merchants: Merchant adoption continues to increase. Up 110,000 merchants over the previous quarter and up 1 million since November 2015. With 1.75 million merchants now converted to Visa EMV platform, it is still just a 38% saturation of the US storefronts. More small businesses are warming to the idea of converting to EMV because of the fraud protections benefits they can reap, so this number will steadily increase. This migration has been delayed for gas stations, an area with high fraud for three years. This will continue to impact merchant upgrades.

The US EMV migration continues to be slow going as the transformations are only raising 7% a quarter. And even though it is likely we will see steady growth in overall EMV penetration throughout 2017, there will most certainly be a reductions of credit card counterfeiting and fraud as these numbers rise.

In 2014 fraud cost US retailers approximately 32 billion dollars. That figure is up from 23 billion just one year earlier. The new payment protocols that were implemented in October of 2015 are meant to solve the fraud problems across in store, online, and mobile payments.

• EMV cards are the most secure form of card payment processes available. Embedded with a microchip for added security, the chip carries real-time risk assessment and generate dynamic cryptogram when the card is used to stop fraudulent activity.
• Tokenization schemes assign a random value for mobile and internet payment making it effectively impossible for hackers to access any sensitive data from the token.
You will see more optimization and implementation of the EMV technology with both consumers and merchants over the next 4 years. Full implementation of EMV technology across US merchants should be completed by the end of 2021.

In this competitive world of e-commerce, public credit card services have a significant role to play, since they provide numerous solutions about service packages as well as several merchant accounts. They can aid you in accepting credit cards or even debit cards and processing quite a few transactions in a flash through a streamlined process, rather than experiencing blocked accounts or funds held because of doubtful transactions.

Taking your needs into account, you can accept cards via many different media such as the World Wide Web, telephone, fax, or personally. Different merchant accounts are custom-made for business owners who need to handle large transactions on a daily basis. They can assist you in making your business processes simpler and boosting your earnings. They also offer you several means to taste success now as well as in the future.

Using credible credit card services, you can quite effortlessly apply and obtain a merchant account online. These services can undoubtedly offer their clients the desired flexibility and unlimited advantages.

The majority of accounts are trouble-free and are suitable for business owners in any nation. The most excellent thing regarding such statements is that there is no need to abide by the stringent guidelines or make payment for any security deposit in the beginning. These kinds of accounts facilitate perfect integration with your internet site as well.

Almost all reliable credit card services boast well-qualified professionals with sufficient experience. They have expertise in offering safe and sound accounts to their customers. Whether you are unknown to the concept of accepting credit cards or already own a merchant account, they can help you handle each and every matter without any hiccup.

These service providers can offer retailers a comprehensive package at affordable rates and also aid them in fraud protection issues as well as acquire knowledge of various merchant account processing alternatives. Dealers can receive robust online management and reporting tools at no additional cost. These experts are very much able to direct you through the whole application process, customize a solution to your particular requirements, and ensure total customer gratification.

With plenty of credit card service providers available in the industry, it is at times rather difficult to locate the most appropriate one. Nevertheless, it is imperative to verify all the providers initially, instead of illogically choosing one provider.

Nowadays, the majority of customers tend to use the card in place of cash, and the capability of accepting credit cards is somewhat important if you run a web-based business. You will certainly have to install an online payment processing gateway, and for that, you must find a credible credit card service provider. They can successfully handle all the charge back problems without really bothering you and help you widen the payment alternatives of your customer.

Choosing a credit card service is important because this is what all your transactions for your business go through. As long as you consider the time and research in-depth before you commit to anything, you should have no difficulty deciding an experienced and reliable credit card business service.