With just over seven weeks until the EMV implementation deadline, the vast majority of Americans still don't have new, embedded chip cards.
According to the latest Associated Press-GfK poll, only 13 percent of Americans have received a new, EMV card to replace their existing one. Even further, only 35 percent of those with the new cards have actually utilized the new payment method, with the other 65 percent opting to use it the traditional way, either due to unfamiliarity with the new technology or because the merchant did not have that feature equipped.
"I remember going, 'Oh, wow, the card looks cool,' " Brianna Thompson, a college student in Ohio, said in the survey. "But I haven't had a chance to use the chip. I haven't encountered a merchant who accepts them."
In 2012, credit card companies and processors established a soft deadline of October 1, 2015 for when the platform would be accepted in the U.S. Following the Target and Home Depot security breaches, President Obama supported the deadline by signing an executive order last October, stating that EMV will be the new credit card standard in the U.S. and urged companies to speed up the process.
Despite that, there are some companies who are lagging behind. The poll showed that of the Americans who received new credit cards recently, 70 percent of them did not have EMV capability. According to the survey, many banks say that all of the credit and debit cards in the U.S. won't be replaced until well into 2016.
The online poll encompassed 1,004 adults who were surveyed between July 9 and July 13.