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Card Issuers Turning to Contactless Payments Amid EMV Ubiquity, Report States

The U.S. Payments Forum's quarterly report states contact chip payments were “firmly ingrained in the U.S. market.”

EMV card chip EMV card chip. (Photo: Shutterstock)

Now that the vast majority of U.S. payments volume runs through merchants that are equipped for EMV cards, the payments industry is setting its sights on the transition to contactless payments, according to a quarterly market report from the U.S. Payments Forum.

The nonprofit industry organization said that as of March 2019, contact chip payments were “firmly ingrained in the U.S. market” and that payments volume from chip-enabled merchants was almost 70%. Four years ago, in contrast, few card issuers, merchants and customers were prepared for the then-looming liability shift associated with EMV cards.

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