New EMV Transaction Data Released

EMV Transaction Data from EMVCo

Newly released EMV transaction data shows that compliance on a global scale has been a slow burn, particularly when looking at U.S. adoption.

A new report from EMVco ‚ the global body that facilitates EMV specifications for chip-based payment cards and acceptance devices, shows compliance also varies by region significantly. The latest data from the group — which is collectively owned by American Express, Discover, JCB, MasterCard, UnionPay and Visa — shows annual global growth between July 2015 and June 2016 hit 11.8 percent, year over year.

The latest data, released Dec. 14, shows that the July 2015-June 2016 period saw 42.4 percent of transactions globally were EMV-compliant. Comparably speaking to the 12-month period prior, that figure was 33 percent.

But again, that’s on a global scale.

Those figures aren’t quite reflective of the U.S. market. In the U.S., for July 2014-June 2014, the data shows that only .26 percent of transaction were EMV-compliant. The same figures a year later, from July 2015-June 2016 show that just 7.2 percent of transactions were EMV-complaint.

While those figures come during the massive EMV shift for the U.S. market, that data is for the period when the liability shifted from the issuer to the merchant for those merchants who didn’t have EMV-compliant terminals available for chip-enabled cards.

The EMV migration in the U.S. also brought out reports about what impact the EMV migration would have for card-not-present transactions when it came to fraud.

EMV Transaction Data – How The U.S. Stacks Up

Comparably speaking, the European market (Europe Zone 1), places like the U.K. and Spain that got a jump start on the EMV bandwagon, show those regions range between the 96-97.6 percent mark for all the data gathered between July 2015 and June 2016.

In terms of comparison between EMV transaction adoption, the U.S. market is far from being on the map. Those figures, of course, could look a lot different once the study showing the EMV transaction data between July 2017 and June 2015 is released.

For now, EMVCo leaders remain optimistic about the U.S. EMV transaction growth potential.

“The progress of EMV chip technology worldwide promotes the implementation of an interoperable payments framework, supporting an advancing range of payment methods, technologies and acceptance environments,” stated Soumya Chakrabarty, EMVCo Executive Committee Chair in the same report.

“In addition to increasing global usage, the most recent data shows rapid adoption of EMV technology in regions that have recently implemented EMV chip infrastructures, such as the United States and China. With this continued migration, EMVCo expects these figures to increase in the coming year, which could mean that global EMV transaction volumes would exceed half of all card-present payments.”