Europay, MasterCard, Visa (EMV) chip-based cards have been the norm in Europe and in Asia for about a decade, but plastic EMV will not achieve broad adoption in the US until 2020, writes Forrester in new research. Despite the looming deadlines to move from magnetic stripe to EMV, adoption will be slow, thanks to strong competition from more secure, encrypted, and tokenized transactions on digital wallets, NFC mobile, and contactless EMV payments.

As a result, Forrester expects these more secure forms of payments to have a larger share of volume transactions than EMV chip-and-PIN and EMV chip-and-signature card payment transactions by 2025.

Learn more about the research here.