Top US retailers are now chip-enabled – study shows

Wednesday 12 December 2018 14:43 CET | News

99% of the top 200 retailers are now chip-enabled and chip-on-chip transactions make up 60% of overall transaction volumes in the US, according to the US Payments Forum.

Additionally, more than 50% of transactions are taking place at contactless payment-enabled merchants. However, some recent media coverage around a report called into question the effectiveness of chip card payments at reducing fraud, the US Payments Forum continues.

As merchants and issuers work to secure the ecommerce channel, several authentication methodologies and standards have become available, leaving stakeholders with questions around what they are, what problems they solve and how they fit together. These include EMV 3DS, W3C Web Payments and Web Authentication, FIDO and EMV Secure Remote Commerce (SRC).

In 2019, the Forum will focus several projects on helping the industry understand these different authentication methodologies and standards and how they can best be implemented for payment credential, user and transaction authentication in ecommerce. Merchants, issuers and other payments stakeholders that have questions around these and/or other methods for securing ecommerce are advised to join the Forum.

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Keywords: US Payments Forum, chip and PIN, ecommerce, retailers, fraud, authentication, EMV, 3DS
Countries: World