Payments News

Nearly 92% of Square’s Transactions Are Being Made With Chip Cards

Mar 05, 2018

More than two years after the U.S. migration to EMV chip cards accelerated, evidence of the success of the effort continues to emerge. Merchant acquirer Square Inc. says nearly 92% of the transactions it processed as of December were made with EMV-enabled credit and debit cards.

While the advent of chip cards has helped reduce counterfeit card fraud—Visa Inc. says it’s down 70%from more than two years ago—it introduced longer processing times for consumers and merchants. But Square, and others through card-brand programs, have been at work shortening chip-processing times.

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