EMV Migration in the U.S.
EMV is a solution, not just a card — it’s an infrastructure change — an upgrade.
In 2012, American Express, Discover, MasterCard and Visa announced their plans to migrate to a chip-based payments infrastructure in the U.S. — one of the last major global markets to do so. The migration to EMV is now well underway, with approximately 120 million cards already issued in the U.S. and over 575 million expected to be issued by the end of 2015, according to Smart Card Alliance estimates.
The biggest benefit of EMV is the reduction in card fraud resulting from counterfeit, lost and stolen cards. EMV also provides interoperability with the global payments infrastructure, and supports enhanced loyalty programs and cardholder verification methods.
Since 2012, CPI has made significant investment in its EMV capabilities in the U.S., with a focus on building out its manufacturing and personalization capacity. CPI's domestic EMV manufacturing capacity today stands at more than 400 million per year, the largest capacity in the U.S. CPI is supporting many of its existing financial card customers through the migration, and has already manufactured significant volumes of EMV chip cards for the U.S. market.