Between July 2016 and June 2017, 58.9% of card-present contact and contactless transactions globally were EMV-enabled, according to technical body EMVCo. The latest figure outpaces the prior year’s 42.4% rate.
The US registered the biggest year-over-year growth with 31.4% of transactions being EMV-enabled, as against 7.2% in the year ago period.
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Europe, where EMV has been deployed for a longer period of time, registered rates ranging from 89% to 98%.
In Middle East, 90.9% of card-present contact and contactless transactions were EMV-enabled, while the rate stood at 87% in Canada, Latin America and the Caribbean. At 56.2%, Asia trailed those percentages.
EMVCo executive committee chairman Jack Pan said: “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.”
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By GlobalDataEMVCo is collectively owned by American Express, Discover, JCB, Mastercard, UnionPay and Visa, and concentrates on the technical advancement of the EMV Specifications for payment systems.
