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Increasing usage of EMV technology worldwide with 1.2 billion EMV cards in circulation & 18.7 million terminals based on the standard

Posted on: May 25th, 2011 by level_admin No Comments

EMVCo, the EMV® standards body has released the latest EMV deployment figures which state that 40 percent of total payment cards and 71 percent of terminals worldwide are based on the EMV standard.

The official EMV 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 1.2 billion EMV cards in circulation and 18.7 million terminals based on the EMV standard.

Mr Jim Lee, current chairman of the EMVCo Executive Committee, comments: “EMV is designed to significantly improve the security of consumer card payments by providing features that reduce fraudulent transactions from counterfeit and lost and stolen cards. This represents a considerable cost saving to all participants of the payments industry and as the latest figures show, continues to drive migration to EMV standards.”

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