USA Cards and Payments Market Analysis, By Credit Transfers to 2021 1 | Page 2

EMVs with contactless cards revolutionizes the USA cards and payments market
EMV elaborated as Europay, MasterCard and Visa is a chip-based card system that provides the
international standards for credit and debit cards. The chip installed in the card creates a unique
transaction code whenever it is used, providing a solution to the counterfeit magnetic-stripe cards.
The transition to EMV has been striding at a slow pace due to the expenses involved in new
terminals, the installation of new software for those terminal integrations with the current system
and the longer transaction processing times. However, the introduction of EMV 3d Secure and EMV
payment tokenization will enhance the security and future growth of EMV cards.
The USA Cards and Payments Market report provided by Market Data Forecast claims that 55% of
card purchases happened in 2017 were accounted by the chip-based cards and were being accepted
by 96% of the top 200 merchants. The transaction percentage has been doubled from 26% at the
start of 2017. Around 80% of the ATMs in the country are chip-enabled, as per the records of ATM
industry association.