EMVCo releases transaction volume data for the period July 2015 to June2016
14 December 2016 – Technical body EMVCo todaypublishes transaction data that reflects year-on-year growth in the number ofcontact and contactless card-present payments using EMV® chip technology. Thedata reveals that during the period July 2015 to June 2016, 42.4% oftransactions globally were EMV-compliant, compared to 33.0% for the previous12-month period.
To qualify as an EMVtransaction, both the card and terminal used must be EMV-enabled. The datareflects average transaction volumes over a 12-month period to take intoconsideration seasonal variations. EMVCo notes that real-time figures fortransaction volumes today are likely to be higher than the July 2015 to June2016 reporting period given the ongoing adoption of this payment technology.
“The progress of EMVchip technology worldwide promotes the implementation of an interoperablepayments framework, supporting an advancing range of payment methods,technologies and acceptance environments,” stated Soumya Chakrabarty, EMVCoExecutive Committee Chair. “In addition to increasing global usage, the mostrecent data shows rapid adoption of EMV technology in regions that haverecently implemented EMV chip infrastructures, such as the United States andChina. With this continued migration, EMVCo expects these figures to increasein the coming year, which could mean that global EMV transaction volumes wouldexceed half of all card-present payments.”
Regional data shows:
Africaand the Middle East, EMV transactions account for 89.9% for all card-presenttransactions (up from 83.8% in 2014-2015).
Asia,EMV transactions account for 57.9% of all card-present transactions (up from33.6% in 2014-2015).
Canada,Latin America and the Caribbean, EMV transactions account for 88.8% of allcard-present transactions (up from 87.0% in 2014-2015).
EuropeZone 1, EMV transactions account for 97.6% of all card-present transactions (upfrom 97.0% in 2014-2015).
EuropeZone 2, EMV transactions account for 75.0% of all card-present transactions (upfrom 65.4% in 2014-2015).
The number of EMVtransactions in the United States has continued to accelerate throughout2016.
A full breakdown of thedata is available on the EMVCowebsite.
As EMV technologyadoption continues to gain pace, EMVCo calls on payment industry participantsto become EMVCo Associates so they can actively engage in shaping the futureof the payments landscape. Through EMVCo’s Associates Programme, payment cardissuers, acquirers, merchants, processors, card and terminal vendors, networksand their representative associations, can provide technical and strategicinput into how EMV technology specifications should evolve to meet futuremarket requirements.