EMV has been widely perceived as more stick than carrot, with both issuers and merchants dragging their feet on the October 2015 milestone for readiness. However, the actual state of EMV card penetration — and, more important, the extent of cardholder awareness — has been elusive. To help fill this gap in knowledge, this report provides a diagnostic snapshot of the state of cardholder awareness of EMV. Based on an extensive study of more than 8,500 U.S. retail bank customers conducted in November 2014, the report assesses not just the degree of EMV card penetration among major financial institutions (FIs) in the U.S., but also the degree of cardholder awareness, education, and methods of education relating to EMV.

The report also looks at the differences (and similarities) between EMV cardholders and non-EMV cardholders, both demographically and attitudinally. One observation particularly noteworthy—EMV cardholders have an significantly higher opinion of their primary bank compared to non-EMV cardholders.

Primary Questions:

  • Which FIs are ahead of the pack in EMV card issuance?
  • Which FIs are most effectively educating their consumers about the benefits of EMV?
  • What are the most effective and ineffective forms of communication?
  • How do EMV MoneyhawksTM differ from the general population of EMV cardholders?

Companies Mentioned: 

Bank of America Comerica Regions
BB&T Europay Sun Trust
BBVA Fifth Third Bank TD Bank
Capital One MasterCard U.S. Bank
Chase Navy Federal Credit Union USAA
Citibank PNC Bank Visa
Wells Fargo    

Press release: EMV Card Distribution Does Not Equate to EMV Cardholder Awareness

  • An online survey of 8,552 U.S. consumers conducted in November 2014