May 28, 2019   SOURCE: PR NewsWire

Smart Payment Association Releases 2018 Top Smart Payment Card Shipment Figures

MUNICH, May 28, 2019 /PRNewswire/ -- Smart Payment Association (SPA), the trade body of the smart payments industry, today publishes its 2018 annual top smart payment card shipments.

Data from SPA members shows the continued year-on-year growth of smart card shipments across global markets.

While demand remained constant in the mature European market, it continued to grow in the United States where 68% of US storefronts now are accepting chip cards([3]).

    --  In India, the December 2018 deadline to convert all existing debit and
        credit cards to chip and PIN accounted for the strong growth in EMV
        shipments through 2018. This pattern was repeated across the Asian
        Pacific region - most notably in Indonesia.
    --  In Russia and CIS, after a growth pick in 2017 due to MIR cards being
        pushed by the Government, 2018 saw a decrease in shipments.

Increasing consumer demand for faster and more flexible ways to pay was reflected in the growing shipment volume of contactless cards. Europe led the charge in 2018, with 83% of shipments featuring contactless functionality. Across global markets, the figure stood at 45% with all regions and sub-regions showing growth in contactless card shipments.

With consumer and retail confidence key to adoption, the presence of Dynamic Data Authentication (DDA) technology on 80% of smart payment cards globally is an important milestone - having grown from 36% in 2014.

The figures also reveal smart payment cards based on open operating systems reached 80% of total market share in 2018.

"With the success of recent migration programs in the United States and India, focus is shifting to Middle East and across Asia Pacific, where increasing demand<s>s</s> for security and convenience is driving growth in both contact and contactless shipments," comments Andreas Strobel, President, SPA.

A full breakdown and analysis of all results is available for sale to non-members. As part of its extensive market monitoring activities, the SPA has established two Advisory Councils to enable non-SPA members to access the most up-to-date marketplace data available. The SPA Monitoring Advisory Council is open to EMV technology vendors supplying cards and/or modules, while the SPA Forecasting Advisory Council is open to organizations operating in the wider payment ecosystem. For more details, click here

About the Smart Payment Association (SPA)

The Smart Payment Association (SPA) addresses the challenges of the evolving payment ecosystem, offering leadership and expert guidance to help its members and their customers realise the opportunities of smart, secure and personalised payment systems and services both now and for the future. For more information on the SPA, visit our website: www.smartpaymentassociation.com.

Media Contact: communication@smartpaymentassociation.com

([1]) Participating in the process are SPA Members: G+D Mobile Security, Gemalto - A Thales Company and Idemia; SPA Associate Member, Austria Card and SPA Market Monitoring Advisory Council Members: CPI Card Group, Linxens, NXP and ST Microelectronics.

([2]) DDA - Dynamic Data Authentication

([3]) Source : Visa : https://usa.visa.com/visa-everywhere/blog/bdp/2019/02/04/chip_technology_help-IFzO.html

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SOURCE Smart Payment Association (SPA)