Global EMV cards market is segmented on the basis of technology and geography. EMV stands for Europay, MasterCard, and Visa. EMV is a global standard for credit cards that uses computer chips to authenticate (and secure) chip-card transactions. EMV is a standard for parment cards, payment terminals and automated teller machines (ATMs).

The EMV standard was developed to deliver a safe and secure payment transaction between chip-based payment cards and terminals. A dynamic code is generated for every transaction when an EMV card is inserted into an EMV point-of-sale (POS) terminal. This is the prime benefit of EMV cards as it becomes almost impossible for fraudsters to decode customer information.

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The continuously increasing number of card transactions is one of the major factors to have a positive impact on the growth of the global EMV cards market in future. The convenience in the usage of debit and credit cards to make payments has increased their adoption, which in turn, has induced vendors into adoption of advanced payment mechanisms involving cards in the global EMV cards market.

Moreover, the recent years have witnessed a shift toward the usage of cards as digital money; which would encourage vendors to increase their investments in EMV technology for providing consumers and merchants a secure channel while processing payments through card transactions.

NFC technology does enable wireless communication between a POS terminal and an NFC-enabled chip card. It also facilitates contactless transactions. These contactless transactions are quicker than shelling out cash and also lessen the time spent at POS terminals by almost 70%. As an outcome, the demand for such systems will rise in the years to come, as users find it simpler to make payments.

On the basis of technology, the global EMV cards market is segmented into contact-based EMV cards and contactless EMV cards. The segment “contact-based EMV cards” dominated the market during 2015. This is mainly owing to indolence about contactless smart cards. On the basis of geography, the global EMV cards market is segmented into Europe, Asia Pacific, North America, Middle East & Africa and Latin America. Asia Pacific will continue to rule the market all through the forecast period. The key players of global EMV cards market are Abnote, CPI Card, Cardzgroup, Giesecke & Devrient, Gemalto, Morpho, Perfect Plastic Printing, Oberthur Technologies, and Versatile Card Technology.

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