Smart payment cards market grew by 18% in 2010
Global shipments accounted more than 798 million smart payment cards in 2010, 96% of which were EMV-enabled. The strong growth in the adoption of EMV cards was observed in the Americas and Asia Pacific, were shipments rose by 26% and 36% year-on-year respectively. European & CIS-MEA markets saw a 10% growth. At the same time, contactless support through the delivery of dual interface cards, incorporating both EMV and contactless technologies, grew reportedly by 80% year-on-year.
The report mentioned also the case of US where EMV-cards adoption has been started for US travelers (cf. Smart Insights Weekly #11-18), and the further adoption of which is expected to help combat payment card fraud estimated at more than US$ 9 billion (EUR 6.3 billion) in 2010.
SPA claims that smart payment card shipments have almost doubled since 2007, implying the efficiency of the response to the increasing sophistication and globalization of payment card fraud.