More than Half of U.S. Consumers Lack Awareness of EMV 'Chip' Credit Cards
A survey has found that that 56 percent of consumers are unaware of what an EMV or 'chip' credit card is.
The survey by Harbortouch found that lower income respondents were more likely to lack knowledge of EMV cards than those in higher income brackets. Nearly 60 percent of consumers with an income of $25,000-$49,999 were unaware of EMV cards. However, only 26 percent of the highest income cohort ($150,000+) lacked knowledge of EMV credit cards. The results point to the need for more consumer education on the transition from traditional 'swipe' credit cards to EMV or 'chip' cards, which will take place nationwide in just two weeks.