Global shipments of EMV-enabled payments cards
grew 18% to 798m in 2010, according to the Smart Payment
Association (SPA).
EMV-enabled chip cards are now said to
represent 96% of shipments – with numbers doubling since 2007,
which the SPA claims is an efficient response to the increasing
sophistication and globalisation of payment card fraud.
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Strong adoption of EMV was reported in the
Americas and Asia Pacific regions, with shipments rising 26% and
36% respectively in 2010 when compared to the same point the
previous year. EMV card shipments are claimed to “remain buoyant”
in European and CISMEA markets, growing 10% year-on-year.
“The high level of growth in 2010 offers
positive encouragement to consumers that their financial
institutions and retailers are continuing to work hard to combat
payment card fraud,” said Nicolas Raffin, president of SPA.
“We’re pleased to support market enthusiasm
for dual interface cards which opens the way for a full array of
services that combine increased convenience and security.”
The SPA’s review also notes an 80% growth in
contactless support through the delivery of dual interface cards,
which incorporate both EMV and contactless technologies.
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By GlobalData
