EMV Chip card adoption continues to grow globally, with 12.8 billion cards in circulation by the end of 2022, a 7% increase from the previous year.
Facts
- At the end of 2022, there were 12.8 billion EMV Chip cards in circulation worldwide, reflecting a 7% growth over the past year.
- 69% of all issued cards are EMV-enabled, showcasing the widespread adoption of this technology.
- 93% of card-present transactions globally utilized EMV Chip technology, emphasizing its dominance in secure payments.
- Joy Huang, EMVCo Executive Committee Chair, highlights EMV Chip’s reliability and trustworthiness for both contact and contactless payments.
- EMVCo collaborates with various stakeholders, such as merchants, issuers, acquirers, and technology providers, to evolve EMV Specifications for next-gen payments.
- EMV Chip technology is expanding beyond traditional payment scenarios to address emerging sectors like mass transit, automotive, and IoT.
- EMVCo is committed to enhancing security and convenience in remote payments through the evolution of EMV 3-D Secure, EMV Secure Remote Commerce, and EMV Payment Tokenisation Specifications.
