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Worldwide EMV card circulation hits 2.37bn

06 May 2014  |  3199 views  |  0 Source: EMVCo

Official figures released by global technical body EMVCo demonstrate continued adoption of EMV chip technology: with 2.37 billion EMV payment cards in circulation and 36.9 million EMV terminals active worldwide.

EMVCo - which is today 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. Adoption of EMV Specifications and associated approval and certification processes promotes a unified international payments framework, which supports an advancing range of payment methods, technologies and acceptance environments.

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 United States, which is in the process of migrating its payment infrastructure to EMV chip technology.

"The continued adoption of EMV chip cards and terminals globally emphasises the important role this technology plays in securing physical payment transactions," commented 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."

As part of its efforts to drive adoption of EMV technology worldwide, EMVCo is hosting its sixth annual EMV User Meeting from 25-26 June at the Grand Millennium Hotel in Kuala Lumpur. The technical body invites all users of the EMV Specifications to attend the event to gain an understanding of its strategic vision to meet marketplace advancements, as well as engage in open discussions regarding EMVCo's current priorities.

"EMVCo invites payment card issuers, acquirers, merchants, processors, card and terminal vendors, networks, and their representative associations to contribute to its work to advance existing and create new specifications," concluded Christina. "We recognise that this collaborative approach is central to facilitating the ongoing adoption and evolution of EMV technology." 

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