According to data released by technical body EMVCo, one -in-three of all card-present transactions undertaken globally between July 2014 and June 2015 used EMV chip technology. The improvement in EMV penetration comes as statistics show that deployment nears 100% in much of Europe as well as EMV transactions accounting for 87% of all payment card transactions in Latin America, and 84% of transactions in Africa and the Middle East.
Commenting on the data release, Jack Pan, EMVCo chair, said,
“As we begin to witness full global adoption of the technology, EMVCo is working to optimise the EMV Specifications and services to facilitate future innovations of face-to-face payments. In addition to this, the body is also evolving the technology to enable and secure new methods of payment, such as digital transactions, to promote security, user familiarity and convenience.”
With data from transactions processed by American Express, Discover, JCB, MasterCard, UnionPay and Visa, the EMVCo. data release represents the most accurate and up to date statistics around the EMV payment technology. Furthermore it demonstrates that while EMV deployment is an ongoing process, the majority of the international community has embraced the technology and is seeing the benefits of the transition from mag-stripe in terms of reducing fraud.
Overview by Tristan Hugo-Webb, Associate Director, Global Payments Advisory Service at Mercator Advisory Group
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