MADISON, Wis. (5/13/14)--Official figures released by EMVCo show increased adoption of Europay-MasterCard-Visa (EMV) chip technology, with 2.37 billion EMV payment cards in circulation and 36.9 million EMV terminals active worldwide as of the end of 2013.
EMVCo, which is owned by American Express, Discover, JCB, MasterCard, UnionPay and Visa, facilitates worldwide interoperability and acceptance of secure payment transactions by managing and evolving the EMV specifications and related testing processes.
"The continued adoption of EMV chip cards and terminals globally emphasizes the important role this technology plays in securing physical payment transactions," said Dave Meadon, current EMVCo executive committee chair.
The latest figures are the first to be released by EMVCo since adding Discover and UnionPay as new member-owners in 2013, and are based on a compilation of data submitted by each of its members. The figures currently exclude the U.S., which is in the process of migrating its payment infrastructure to EMV chip technology.
Data released in the fourth quarter of 2012 showed 1.62 billion EMV cards in circulation and 23.8 million terminals active worldwide.