EMVCo has released its latest data on the
adoption of chip-and-PIN technology worldwide – and the numbers are
great, indeed.
More than 42% of cards and about 76% of all
POS worldwide now support the EMV technology. The total number of
EMV cards totals 1.3bn, while the overall figure for POS devices
across the globe amounts to 20 million.
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Patricia Partelow, chair of the EMVCo
Executive Committee, said:
“As the figures demonstrate, EMV technology
continues to be deployed globally, creating a truly interoperable
chip-based consumer payment infrastructure.
“Adoption of the technology is important as it
provides a variety of risk management parameters and cardholder
verification methods that reduce fraudulent card payments.
“In addition to our commitment to enhance
payment security, EMVCo also works to identify future requirements
and enhance its established infrastructure to deliver a common,
robust technology platform that in the future will support contact,
contactless and mobile payments.”
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By GlobalDataTo support the growing adoption of EMV
standards, EMVCo has established the EMVCo Associates Programme to
encourage all payment stakeholders to play a more active role in
guiding the organisation’s strategic and technical direction.
The participation framework, which was
established by EMVCo to encourage stakeholder’s to spur
participation in the standard body’s strategic and technical
development, will facilitate the adoption of EMV technology, she
said.
“It creates opportunities for interested
organisations – including payment card issuers, acquirers,
merchants, processors, card and terminal vendors, networks and
their representative associations – to provide input into the
advancement of existing and creation of future EMV
Specifications.
“We recognise that this will further
facilitate the global relevance of EMV technology as the
marketplace advances to offer new ways to pay for goods and
services.”
