Global proliferation of EMV card chip technology adoption is under way - survey

Monday 12 May 2014 09:12 CET | News

EMV chip technology adoption for cards, at a global scale, points at 2.37 billion EMV payment cards being in circulation and 36.9 million EMV terminals are active, according to a survey conducted by the payment transactions company, EMVCO, reports.

The figures exclude the US, which is in the process of migrating its payment infrastructure to EMV chip technology.

Dave Meadon, EMVCo Executive Committee Chair, informs that EMVCO’s survey for Q4 2012 indicates 1.62 billion EMV cards in circulation and 23.8 million terminals active worldwide.

EMVCo, which is owned by American Express, Discover, JCB, MasterCard, UnionPay and Visa, conducts interoperability and acceptance of secure payment transactions by managing and evolving the EMV Specifications and related testing processes.

The recent figures, which reflect data from Q4 2013, are the first to be released by EMVCo since welcoming Discover and UnionPay as new member-owners in 2013, and are based on a compilation of data submitted by each member financial institution.

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Keywords: World, EMV, card chip technology, adoption, terminals, card payments, card transfers
Categories: Payments & Commerce
Countries: World
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