With tens of thousands of merchants activating chip payment terminals each week, the United States is currently considered the largest chip market in the world. As secure chip transactions continue to rise, so too does the number of Visa chip payment transactions.
U.S. consumers are using their Visa chip cards to make transactions securely and with convenience both domestically and abroad. The approval rate for Visa chip transactions has risen to 96.8 percent thanks to certain enhancements in Visa’s acceptance rules. As the market changes, this trend is more than likely to result in increased secured transactions for consumers and lower fraud costs for merchants and financial institutions. Visa has served as a driving force behind increased awareness and acceptance of EMV and EMV solutions.