EMVCo: 59 percent of card-present, contactless transactions made with EMV standard

Wednesday 6 December 2017 11:51 CET | News

EMVCo, a global tech body that facilitates secure payment transactions, has found that 58.9% of card-present contact and contactless transactions globally were EMV-enabled between July 2016 and June 2017.

This represents an increase over 2016, when 42.4% of transactions were EMV-enabled. The data reflects average transaction volumes over a 12-month period to account for seasonal variations.

EMVCo acknowledges that real-time figures for transaction volumes today are likely to be higher than the reported June 2017 figure.

EMVCo work with the payments community to evolve the EMV Chip Specifications to promote a secure and interoperable basis for mobile payments and other emerging payment technologies.

The latest EMVCo data shows that the US experienced the largest year-over-year increase, with 31.4% of transactions being EMV-enabled, compared to 7.2% in the same period the in 2016.

Europe Zone 1 saw 98.2% of total transactions being made through EMV; Africa & the Middle East, 90.9%; Europe Zone 2, 89.1%; Canada, Latin America & the Caribbean, 87.0%; and Asia, 56.2%.

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Keywords: EMVCo, EMV, card-present, contactless, transactions , World, payment, cards
Categories: Payments & Commerce | Cards
Countries: World
This article is part of category

Payments & Commerce