59% OF CARD-PRESENT TRANSACTIONS GLOBALLY USE EMV® CHIP TECHNOLOGY

EMVCo global transaction volume data for the period July 2016 to June 2017 demonstrates year-on-year growth 

Technical body EMVCo has published transaction data showing 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 the prior year, when 42.4% of transactions were EMV-enabled.

The data reflects average transaction volumes over a 12-month period to account for seasonal variations. Given the ongoing rate of EMV chip technology adoption, EMVCo acknowledges that real-time figures for transaction volumes today are likely to be higher than the reported June 2017 figure.

Jack Pan, EMVCo Executive Committee Chair, comments: “The most recent transaction volume data indicates that we are moving towards EMV chip technology becoming the foundation for contact and contactless card-present payments worldwide. As EMV chip migration approaches maturity across the globe, EMVCo continues to 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 and meet the long-term needs of the payments ecosystem.”

The latest EMVCo data shows that the United States experienced the largest year-over-year increase, with 31.4% of transactions being EMV-enabled, compared to 7.2% in the same period the prior year. Other regions, where EMV has been deployed for a longer period of time, have substantially higher percentages of EMV-enabled transactions.  This includes Europe Zone 1, 98.2%; 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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