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

Index Helps Deploy M/Chip Fast to Speed Shoppers through Checkout

PURCHASE, N.Y.–(BUSINESS WIRE)–#chipcard–Mastercard today announced that 80 percent of its U.S. consumer credit
cards have chips, representing an 88 percent increase in chip card
adoption since the October 1, 2015 liability shift started to bring
EMV-secured payments to the U.S.

The company also sees 1.7 million chip-active merchant locations on its
network, representing nearly 30 percent of the U.S. merchant population
and a 374 percent increase in chip terminal adoption since October 1,
2015.

In terms of U.S. dollars, counterfeit card fraud is down over 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.”

M/Chip Fast Active at Local Markets

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 security. Cardholders can expect to experience speeds closer
to the familiar magnetic stripe transactions with the added security of
EMV.

With Index,
a leading retail software company that combines secure payments,
measurement and personalization for the offline world, New
Seasons Market
, a grocer with 19 West Coast locations, is one of the
first merchants to bring the benefits of “faster EMV” to their customers.

“We’re known for having the friendliest 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.”

New Leaf Community Markets, located in Santa Cruz, CA, has also
implemented M/Chip Fast to reduce EMV transaction times to three seconds
or less.

Faster Chip Terminal Testing and Certification

In June, Mastercard unveiled a new EMV chip terminal testing and
certification program that speeds chip terminal deployment to hours,
rather than days, allowing merchants to move more quickly to EMV. The
new program maintains terminal testing and certification quality and
empowers merchant bank acquirers and value-added resellers to take more
responsibility in the process including:

  • Acquirers will have more responsibility
    and flexibility for terminal testing as a part of their own internal
    processes and schedules. Mastercard has also cut the number of needed
    tests by 58 percent, minimizing mandatory tests and allowing acquirers
    to use their discretion and expertise in deciding when terminals are
    ready for deployment.
  • VARs will receive more and dedicated
    resources to help accelerate terminal deployments. The new resources
    will help VARs navigate terminal configurations, test processes and
    ramp up in-field issue resolution.
  • Acquirers and VARs will benefit from
    published guidelines on standard terminal test configurations which
    will improve the testing cycle and simplify testing processes.
    Standard terminal configuration packages will be available for certain
    industry segments, such as quick-serve restaurants and big box
    retailers.

About Mastercard

Mastercard (NYSE:MA), www.Mastercard.com,
is a technology company in the global payments industry. We operate the
world’s fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in more
than 210 countries and territories. Mastercard products and solutions
make everyday commerce activities – such as shopping, traveling, running
a business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MastercardNews,
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Contacts

Mastercard Communications
Beth Kitchener, 914-249-2058
beth.kitchener@mastercard.com