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| Thursday, 7 October 2010, 18:00 HKT/SGT | |
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Source: EMVCo | |
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London, Oct 7, 2010 - (ACN Newswire) - As of 1 September 2010, over one billion EMV(R)* cards and 15.4 million EMV terminals were active globally. These are the latest EMV deployment figures reported by EMVCo, the EMV standards body collectively owned by American Express, JCB, MasterCard and Visa.
 | | Increasing EMV Card and Terminal Deployments Confirm EMV as Global Payment Standard |
The official figures, which represent the latest statistics from American Express, JCB, MasterCard and Visa as reported by their member financial institutions globally, highlight the growing usage of EMV technology worldwide with 36 per cent of total cards and 65 per cent of total terminals in circulation based on the EMV standard.
In response to the market's uptake of EMV technology globally, the standards body has, for the first time, reported the figures by region. Regional definitions have been dictated by the payment systems' existing reporting format**. Europe Zone 1 has the highest adoption of EMV technology with 555.7 million cards and 9.4 million terminals, which represents an adoption rate of 65.4 per cent of cards and 84.7 per cent of terminals currently active in the region.
Within the Asia-Pacific region, 305.1 million cards and 3.2 million terminals were in operation, followed by the Canada, Latin American and the Caribbean region which has 182.2 million cards and two million terminals in circulation. These two regions share a similar rate of adoption with 26.6 per cent and 26.4 per cent of total cards, and 41.6 per cent and 55.6 per cent of total terminals EMV compliant respectively.
In Europe Zone 2, 22.8 million cards and 458,000 terminals are active, an adoption rate of 11.5 per cent of cards and 61.2 per cent of terminals; while 16.8 million cards and 348,000 terminals are deployed in Africa and the Middle East, an adoption rate of 13.7 per cent of cards and 62.5 per cent of terminals. The United States of America is excluded from the figures as there are currently no EMV programmes deployed.
Mr Jim Lee, current Chair of the EMVCo Executive Committee, comments: "Breaking down the one billion deployment figure by region enables us to clearly see the significant growth of EMV card and terminal adoption and the continued acceptance of EMV as the global payment standard worldwide. By calculating the adoption rates and illustrating the increasing percentage of active EMV card and terminals in relation to the total user base, EMVCo has additionally been able to put these figures into context and clearly demonstrate the uptake of the standard."
With an ever-increasing number of EMV stakeholders, Mr Lee highlights that EMVCo remains committed to advancing the EMV Specifications in line with the emerging requirements of the global payments industry. He adds: "EMVCo has sought to increase industry engagement in the ongoing development of its specification by introducing the EMVCo Associates Programme earlier this year which offers a number of participation opportunities. These allow EMV stakeholders to play a more active role in guiding the organisation's strategic and technical direction, and will broaden access and participation in EMVCo's development work. We recognise that this will further facilitate the global relevance and adoption of EMV through increased accessibility and understanding of the technology."
To find out more about the EMVCo Associates Programme and the latest updates on EMV technology visit www.emvco.com.
Notes to Editors:
* EMV is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo.
** Regional definitions and adoption rates:
http://www.japancorp.net/pdf/jcb/EMVCo-September2010EMVDeploymentStats.pdf
Global image: http://www.japancorp.net/image/jcb/EMVCo-September2010DeploymentMap.JPG
Contact:
Lee'ann Kaufman
Sarah Jones
T: +44 1943 468007
E: leeann@iseepr.co.uk
E: sarah@iseepr.co.uk
Topic: General Announcement
Source: EMVCo
Sectors: Retail & eCommerce, Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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