NEW YORK, Oct. 1, 2016 /PRNewswire/
-- CardFlight, a mobile point of sale (POS) technology
provider, released the latest edition of their EMV Migration
Tracker today, the 1-year anniversary of the October 1, 2015 liability shift. The EMV
Migration Tracker shares the latest data and trends on EMV chip
card usage among cardholders and merchants in the United States since the October 1, 2015 liability shift.
The data and trends shown in the latest CardFlight EMV
Migration Tracker include:
- 78% of cards now contain EMV chips, up from 46% in October 2015
- American Express leads the way in EMV card issuance, with 96%
of their cards now EMV-enabled.
- 73% of CardFlight merchants are EMV-enabled, more than 2.5x the
national average.
- More than half (56%) of CardFlight transactions in September
were EMV "chip on chip", showing our success in leading consumers
and merchants through the EMV migration.
The EMV liability shift that took effect on October 1, 2015 provided incentives for both
issuing banks and card accepting merchants to upgrade to EMV chip
card technology. The CardFlight EMV Migration Tracker assesses the
impact of EMV chip card migration within the payments industry and
serves as a resource for other companies to understand how the EMV
migration changes their own businesses and the market overall.
"EMV card issuance grows 1% every 10 days," said Derek Webster, Founder & CEO of CardFlight.
"The importance increases every day for merchants to upgrade to
EMV-enabled solutions to decrease their chargebacks and
liability."
CardFlight was one of first mobile payments providers to deploy
EMV solutions in the United
States, receiving their first approvals prior to the
October 1, 2015 Liability Shift. The
company has since then been certified with First Data, Global
Payments, Stripe, and TSYS, and is continuing to invest in
additional certifications. EMV chip card certifications have been
an industry hot topic in payments as many point-of-sale providers
have failed to get their certifications in time and turn on their
chip card readers, which has resulted in a high number of
disappointed merchants with growing liability pains and
chargebacks.
The data presented in CardFlight's EMV Migration Tracker
released October 2016 comes from a
sample of hundreds of thousands of transactions processed through
the CardFlight payment gateway since the liability shift. These
transactions occurred at thousands of merchants in all 50 states
from October 2015 to September 2016.
The full version of the CardFlight EMV Migration Tracker can be
accessed by visiting:
www.cardflight.com/resources-emv-migration-tracker-October-2016
About
CardFlight is a software-as-a-service company offering mobile
payments technology and point of sale solutions to enterprises. We
offer a Software Development Kit for developers to integrate
payments acceptance in their existing app and SwipeSimple, a
turnkey mobile solution for Independent Sales Organizations and
Merchant Service Providers to offer to their merchants. Our
technology platform is EMV chip card enabled with encrypted card
readers, and a PCI Level 1 compliant payment gateway supporting all
major U.S. processors.
As industry leaders, we take pride in building the latest mobile
payments technology and establishing partnerships to enable more
companies to accept mobile payments. We have partnered with 15 of
the top 60 merchant acquirers in the U.S. and are currently working
across a variety of verticals with companies like Artsy, Flywheel,
Indochino, and Peloton, making mobile point-of-sale easy for our
clients and their users. For more info, visit us at
www.cardflight.com.
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visit:http://www.prnewswire.com/news-releases/cardflight-releases-new-data-on-emv-chip-card-usage-in-the-us-at-one-year-mark-of-shift-in-merchant-liability-300337582.html
SOURCE CardFlight