The number of locations that accept EMV cards in the United States increased from 3.1 million to 3.7 million during the first six months of 2019, according to an infographic recently released from Visa. In total, some eight in ten storefronts now accept chip cards, an increase of 12 percent since December 2018.
Banks issuing Visa cards put 10 million EMV-enabled cards in the hands of American consumers between December and June 2019, Visa said. That brings the total number of chip cards in circulation to 521.7 million in the U.S., or 72 percent of total Visa credit and debit cards.
Overall U.S. payment volume is overwhelmingly spent on EMV cards; 99 percent of overall volume in June 2019 occurred on EMV cards.
Unsurprisingly, counterfeit fraud losses continue to drop. According to Visa, fraud losses have dropped 87 percent since September 2015 for merchants who have completed the chip upgrade, and 62 percent for all U.S. merchants. Card-present fraud overall has declined 40 percent, Visa said.