NEW YORK (1/6/16)--One-in-three of all card-present transactions undertaken globally between July 2014 and June 2015 used EMV chip technology.
The United States is just beginning to establish its EMV infrastructure with chip card payments accounting for less than one percent of all transactions during the reporting period (Finextra Jan. 5).
The data, compiled by technical body EMVCo, shows that Europe Zone 1 is close to full market EMV chip deployment with 97% of all card-based payments using the standard. Latin America closely follows with 87%. Next are Africa and the Middle East at 84%.
Asia showed significant growth with the number of payments using EMV chip technology increasing by 73%, representing 34% of all card-present transactions. Europe Zone 2 also saw a substantial rise of 30%, to 65% of all face-to-face payments based on EMV.
Mike Matan, current chair of the EMVCo executive committee, said that 3.4 billion EMV chip payment cards were in circulation globally at the end of 2014.
“The figures published today represent a 10% year-on-year rise in the number of card-present transactions using EMV chip technology, from nearly 30% of all transactions a year ago to 33% in the most recent reporting period,” Mattan said.
The data represents both contact and contactless EMV chip card-present transactions processed by American Express, Discover, JCB, MasterCard, UnionPay and Visa.