By the end of 2015, approximately 59% of US POS locations will be EMV-enabled, according to a report from payment consultancy Aite Group.
EMV implementation is under way in the US
Awareness of the migration to EMV among small to mid-size US retailers has increased, with two-thirds of merchants aware of the standard. However, Aite states that a significant awareness gap still needs to be addressed for the remaining one-third of merchants who are unaware.
The study points out that while nearly all large US merchants have either begun or completed their conversion to EMV-enabled terminals, a large percentage of small to midsize US merchants are either undecided or not planning to upgrade their POS infrastructure in the near future.
The report also indicates that among those who are aware, 61% have either begun work or have already completed implementation. For those merchants who are aware and planning to upgrade their POS, a fairly large number have begun implementation. And the pace of implementation is accelerating, with 86% expecting to be chip-enabled by the end of 2015, the study adds.
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