EMVCo, 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 chip Specifications and related testing processes.
The latest figures, which reflect data from Q4 2013, are the first to be released by EMVCo since welcoming Discover and UnionPay as new member-owners in 2013, and are based on a compilation of data submitted by each member financial institution. The figures currently exclude the US, which is in the process of migrating its payment infrastructure to EMV chip technology.
Data demonstrates increased adoption of EMV chip technology globally
“The continued adoption of EMV chip cards and terminals globally emphasises the important role this technology plays in securing physical payment transactions,” comments Dave Meadon, current EMVCo Executive Committee Chair.
“EMVCo last released data in Q4 2012, which showcased 1.62 billion EMV cards in circulation and 23.8 million terminals active worldwide. This year we were able to recognise data from new members as well as growth from existing members. Consequently, we can see even more impressive adoption of EMV, with an additional 750 million cards and 13.1 million terminals deployed. These are impressive figures.”
EMVCo has provided regional data which can be viewed on its website. Christina Hulka, current Board of Managers Chair, added: “The EMV Chip Specifications are designed to be flexible and can be adapted regionally to meet national payment requirements and accommodate local regulations.
“Our statistics indicate that the regions that have migrated to EMV chip technology are now close to offering full adoption of EMV terminals. Having this acceptance infrastructure in place is key to ensuring the creation of a secure and globally interoperable payment environment.”
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