About Smart Cards : Introduction : Market Information
Smart Card Market Information
Eurosmart conducts an annual market study on global shipments for “secure elements” – i.e., devices incorporating smart card technology.
- Eurosmart reported that 9.2 billion devices incorporating smart card technology will ship globally in 2015- 11.9% growth over 2014.
- Eurosmart has forecast that over 9.8 billion devices will ship in 2016 – 6.5% growth over 2015.
See all Eurosmart market figures.
EMV Credit and Debit Chip Card Issuance
Financial institutions in Europe, Latin America, Asia/Pacific, Canada and the United States are issuing contact or dual-interface EMV chip cards for credit and debit payment (commonly referred to as “chip and PIN”) or migrating to EMV issuance. EMVCo publishes global statistics on EMV issuance and acceptance. EMVCo reported that over 3.4 billion EMV cards were in circulation globally at the end of 2014. EMVCo also reports the status of “chip-on-chip” transactions; one in three of all card-present transactions undertaken globally between June 2014 and June 2015 used EMV chip technology.
See all EMVCo figures.
The U.S. is now migrating to EMV chip cards.
The EMV Migration Forum is the cross-industry organization focused to address issues that require broad cooperation and coordination across many constituents in the payments space in order to successfully introduce secure EMV contact and contactless technology in the United States. As of the end of 2015, the Forum estimates that approximately 400 million EMV chip cards have been issued in the U.S., with 675,000 merchant locations accepting EMV chip transactions.
The Forum has published a variety of resources to assist payments industry stakeholders with EMV migration; resources are available on the EMV Connection web site.