LOUISVILLE,
KY – A new survey by the Smart Payment Association reveals contactless payment
card shipments are on the rise, Mobile Payments Today reports.
Last year,
roughly one-quarter of all smart cards shipped included contactless
technologies, with year-over-year increases in Western Europe (106%) and Asia
Pacific (11%) registering the strongest gains.
Dual
interface cards, those incorporating chip and PIN and contactless technologies,
grew at 77% year-over-year.
More than
975 million cards shipped last year, with the total number of China’s migration
to chip-based payment cards growing 24%. Europe’s growth was 8%, mainly driven
by contactless technology. In North America, contactless card shipments
increased just 1%, with most of those cards bound for Canada.
Last year,
56% of global shipments featured dynamic data authentication or combined data
authentication, up 47% from the year prior.
"The
data from this annual review points to a rapidly-changing payment
marketplace," said Andreas Strobel, president of the Smart Payment
Association. "NFC contactless payment is becoming a priority, but without
effective collaboration between global and regional standards bodies, the
ability to deliver on consumer expectations will be constrained. SPA's role is
to help facilitate these discussions and support innovative new approaches to
assure the industry is able to realize the tremendous opportunities that new
technologies can bring."