Question: What Percentage of Consumers Are Using Chip Cards?
From Washington Post: 37% as of September 2015, according to Square
From Washington Post:
New credit cards with chips may be safer than the old magnetic stripe variety we all know. But they’ve caught a lot of unwanted attention lately, getting blamed for slumping user growth at Netflix, overwhelming small businesses and sparking a new round of consumer scams.
The challenges that chip cards face may seem ubiquitous — at least in this latest news cycle. But how many people are actually using them? Payments company Square shared data with The Washington Post showing that, as of September, only 37 percent of the cards that Square vendors processed were chip cards.
Check out the NGPF Webquest: Are Chip-Enabled Cards Safe?
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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