Since the 2015 EMV transition, Visa has issued more than 282 million chip cards in the U.S. Merchants are bracing themselves to handle the new EMV cards, and almost 40% of all merchants are currently compliant and ready to take EMV cards.
Performance Merchant Alliance reports an uptick in the transition of small businesses from swipe terminals to chip encrypted terminals. With Visa’s issuance of hundreds of millions of credit and debit cards, consumers are driving the demand for merchants to make the change to EMV. Consumers have made it clear: they want the security that comes with the new technology.
The trend to adapt to the new EMV terminals is reducing fraud based on increased chip based transaction volume. Chip transactions reportedly increased by 12.5% in just one month in 2016.
Due to higher EMV-based spending, fraud has reduced by nearly 26% in the first quarter of 2016. As chip technology transactions continue to rise, merchants will notice changes such as less fraud.
Credit card fraud cost merchants $32 billion in 2014, up $9 billion from 2013. By implementing EMV terminals, merchants get instant relief. More information can be found at http://permerch.com
About Performance Merchant Alliance
Performance Merchant Alliance delivers exceptional merchant services by partnering with companies of all sizes to provide world-class credit card processing solutions.
Our mission is to provide exceptional merchant services. We continuously discover innovative ways to improve our team of professionals to meet your payment processing goals and we take pride in conducting ourselves in a professional and ethical manner. Our reputation is based on our responsiveness to our merchants, effective systems of quality assurance and delivery of high standards of merchant support. When you choose Performance Merchant Alliance, you get much more than a credit card processor; you get a partner.
Performance Merchant Alliance makes no representation or warranty regarding and accepts no liability for the accuracy of the content contained herein.
Company Name: Performance Merchant Alliance
Contact Person: Pamela Andrews
Phone: (844) 584-3108
Country: United States