EMV Transactions Near 60 percent globally – Report

In the 12 months leading up to June 2017, 59.9 percent of card-present transactions globally used EMV technology, an increase from 42.4 percent in the previous 12 months, according to the technical body EMVCo.

Given the ongoing rate of EMV adoption, the percentage today is likely to be even higher, an EMVCo press release said.

Predictably, the United States experienced the largest year-over-year increase; 31.4 percent of transactions were EMV enabled, compared with 7.2 percent in the prior 12 months.

The release cited substantially higher rates of EMV-enabled transactions in regions where EMV has been deployed for a longer period of time: – Europe Zone 1, 98.2 percent

-Africa and the Middle East, 90.9 percent

-Europe Zone 2, 89.1 percent

– Canada, Latin America and the Caribbean, 87 percent

– Asia, 56.2 percent

“The most recent transaction volume data indicates that we are moving towards EMV chip technology becoming the foundation for contact and contactless card-present payments worldwide. As EMV chip migration approaches maturity across the globe, EMVCo continues to work with the payments community to evolve the EMV chip specifications to promote a secure and interoperable basis for mobile payments and other emerging payment technologies, and meet the long term needs of the payments ecosystem,” Jack Pan, EMVCo Executive Committee Chair said in the release.