NEW YORK—Approximately 2.6 billion smart payment cards were shipped globally in 2018, according to data from the Smart Payment Association.
The data shows that 68% of U.S. storefronts now accept chip cards, though demand for the technology remains relatively limited in the more mature European market, according to the SPA.
The report also shows that Europe led all regions in the growth of contactless cards in 2018, with 83% of shipments including contactless functionality, noted Mobile Payments Today in its analysis.
"With the success of recent migration programs in the United States and India, focus is shifting to [the] Middle East and across Asia Pacific, where increasing demand for security and convenience is driving growth in both contact and contactless shipments," SPA President Andreas Strobel said.
In India, EMV growth was strong due to a December 2018 government deadline to convert all existing debit and credit cards to chip and PIN. Similar patterns were seen across the Asia Pacific market, particularly in Indonesia, according to SPA, noted Mobile Payments Today.