Quick facts about the current state of EMV implementation

| EMV adoption by card holders and small businesses has increased significantly since 2015's liability shift.

It has been over two full years since the EMV liability shift took place and some major changes in the payments industry and EMV implementation that occurred in that time. According a report from Creditcards.com, Sarah Grotta, a debit advisor at Mercator Advisory Group, said EMV cards constituted 25 percent of all issued payment cards at the end of 2015. CPI Card Group estimated that the number to be at 60 percent as of now.

The chip-based technology that once was a rarity in small businesses around the country is now a bit closer to reaching universal use, but there is still work to be done in reaching a 100 percent adoption rate.

Numbers are looking good

"There are around 2 million EMV POS card processing terminals in use."

Creditcards.com said the U.S. Payments Forum found 855 million EMV-enabled cards were issued to American consumers thus far. However, even with such a high number, the rollout has been slow compared to other EMV compliant nations.

"Most countries that migrated to EMV have four or five banks that issue cards and a couple of acquirers that provide a service to merchants," said Jason Oxman, chief executive officer of the Electronic Transactions Association, to Creditcards.com. "We have 13,000 financial institutions in the U.S. that issue credit and debit cards, and we have 5 million merchant locations in the U.S. that accept debit and credit cards. So it's a massive undertaking."

Small businesses widely accept EMV

Randy Vanderhoof, director of U.S. Payments Forum, said in a company statement that between 70 and 80 percent of small businesses are now EMV compliant, which is a significant increase from rates observed in 2016.

"This shows us that merchants are being proactive, certifications have become more streamlined and those certified systems are getting into the market more quickly," Vanderhoof said.

The U.S. Payments Forum statement also noted that 55 percent of purchases take place on chipped cards and, according to Creditcards.com, there are around 2 million EMV POS card processing terminals in use in the country, but 15 million still lack chip functionality.

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