Visa's US EMV transactions hit one billion mark in March

Visa has reported that the US consumers carried out more than one billion transactions using its EMV cards for the first time in March 2017

Visa's US EMV transactions hit one billion mark in March

Visa has reported that the US consumers carried out more than one billion transactions using its EMV cards for the first time in March 2017, a 330% surge compared to the previous year.

The payment technology firm said that the number of chip-enabled merchant locations in the country reached two million, representing 44% of stores that accept Visa, out of which more than 75% are small- and medium-sized businesses.

As per the data released by Visa, there are now more than 421 million Visa chip cards in circulation throughout the US, and chip-ready merchants now represent 49% of Visa’s in-store payment volume.

Over two million merchant locations are currently accepting chip cards, a 409% increase since the beginning of EMV migration in the US.

For merchants who have completed the chip upgrade, counterfeit fraud dollars deceased 58% in December 2016 compared one year ago.