Nearly 42% of all card-present transactions carried out globally between July 2015 and June 2016 used the EMV chip technology, up from 33% for the previous 12-month period, according to figures released by the global technical body EMVCo.
In Africa and the Middle East, EMV transactions comprised 90% of all card-present transactions, up from 84% in 2014-15.
In Asia, EMV transactions accounted for 57.9%, up from 33.6% last year. Almost 89% of all card-present transactions were EMV chip-enabled in Canada, Latin America and the Caribbean, according to the transaction data of EMVCo.
Europe Zone 1 region maintained the highest EMV chip transactions with 98%, whereas Europe Zone 2 saw EMV transactions account for 75%, up from 65% in the previous year.
EMVCo executive committee chairperson Soumya Chakrabarty said: “The progress of EMV chip technology worldwide promotes the implementation of an interoperable payments framework, supporting an advancing range of payment methods, technologies and acceptance environments.
“In addition to increasing global usage, the most recent data shows rapid adoption of EMV technology in regions that have recently implemented EMV chip infrastructures, such as the US and China.
"With this continued migration, EMVCo expects these figures to increase in the coming year, which could mean that global EMV transaction volumes would exceed half of all card-present payments.”