Visa-branded chip card total tops 408M in 2016
The number of Visa chip cards issued as of the end of 2016 grew 92 percent over year-end 2015, to a total of 408.1 million, according to a company blog post this week.
The San Francisco-based company also said that the number of merchants with chip-enabled terminals more than doubled to 1.81 million in 2016.
Visa released these additional key findings in its December 2016 chip card update:
- counterfeit fraud at chip-enabled merchants in September dropped 52 percent year on year;
- Visa chip payment volume in December grew 239 percent year on year; and
- Visa credit payment volume on chip cards in December grew 96 percent year on year.