Obama Pay

While largely ceremonial, President Obama today signed an executive order at the Consumer Financial Protection Bureau mandating the use of smart payment cards in the U.S. for government payments. The payment transistion in the U.S. from mag stripe/signature card payments to Chip/PIN (EMV) is already underway and will be in full steam in 2015.

U.S. Chip EMV

Based on forecasts provided by acquirers representing approximately 80% of U.S. purchase volume at least 47% of U.S. merchant terminals will be enabled for EMV chip technology by the end of 2015. Also Visa announced it is kicking off a national awareness and education effort that will reach millions of U.S. cardholders and merchants with information about chip technology.