New Research Examines the Worldwide Progress of EMV Technology, Migration, and Acceptance
Boston, MA -- Payment networks decided long ago that EMV was the most effective security standard for reducing fraud. The most progressive countries achieved universal EMV compliance as early as 2007. While numerous countries have since embraced the initiative, many have come up short of upgrading all of their cards and terminals.
Mercator's latest report, The State of EMV Adoption: A Global Update, provides a global update for EMV migration, examines the markets that have room to grow, and identifies the catalysts that may increase demand in the coming years.
Michael Misasi, research analyst at Mercator Advisory Group and the author of the report comments: "China is the latest major market to commit to a national EMV migration. The government's support of the initiative will likely ensure a timely and complete migration that will significantly increase the global market for EMV cards and terminals. Visa's U.S. liability shift may have a similar impact in the world's other EMV holdout, but given the country's strong mag-stripe preference, it remains to be seen how swiftly merchants and issuers will respond without a government mandate or a comparable stance from MasterCard."
Companies mentioned in this report include: Visa, MasterCard, MagTek Inc, Citibank India, ICICI Bank, M-Pesa, China Mobile, China Unicom, China UnionPay, and China Telecom, NTT DoCoMo, Sony Corp., KT Corp., Touch N' Go, Maxis, Nokia, Malayan Banking, StarHub, EZ-Link, DBS Bank, Gemalto, Belgacom, Mobistar, Base, Orlen Germany, T-Mobile, Era, Deutsche Telekom, Telefonica Spain, La Caixa, O2, PKO Bank Polski SA, Orange UK, JPMorganChase, U.S. Bank, Wells Fargo, Citibank.
Members of Mercator Advisory Group's Emerging and International Advisory Services have access to this report as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.