Thursday 25 May 2017
More than 2bn chip cards were shipped globally by Smart Payment Association (SPA) members in 2016, representing an increase of 4% from 2015, the trade body reveals, with contactless cards accounting for more than 50% of shipments in most regions.
“Most regions exhibit double digit growth, with India’s transition away from cash producing a five-fold increase in smart card shipment volumes,” SPA says. “The findings also confirm a surge in demand for contactless payment cards in response to growing consumer appetite for convenient ways to conduct small transactions.”
“Following significant EMV roll out programs in the US and China, 2016 saw shipment volumes begin to normalise to reflect growing market maturity in most major global markets,” says Sylvie Gibert, SPA president.
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