The vast majority of credit and debit cards in the U.S. are now EMV compliant, and nearly 70 percent of U.S. stores can support chip-enabled cards. But there are gaping holes—including smaller financial institutions that haven’t fully converted to EMV and millions of merchant locations still not accepting chip cards.
Fraudsters are meddling with these areas now, chasing the last remaining opportunities to commit counterfeit card fraud.
Gas stations—whose October 2020 EMV liability shift is five years later than general merchants’—are becoming a serious concern, with least 90 percent of unattended payment terminals still not EMV-compliant. Following a spate of headlines about gas station card-skimming crimes, a recent study suggests some consumers are becoming uneasy about paying at the pump.
Here’s a look at the latest U.S. EMV migration milestones and where risks persist.