About EMV Payment Card
EMV cards are chip-based payment cards carrying an embedded microchip and this chip technology is the latest global standard for card payments.EMV payment cards support contactless payment through near-field communication (NFC) wireless connectivity. These smart cards can provide new payment options and services, more convenience and choice, and additional levels of security. Chip technology is already being used extensively in Europe and Asia and has proven to be extremely effective in reducing fraud.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations.The Players having a strong hold in the market are ABCorp, CPI Card Group, Fiserv, Inc., and Gemalto. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global EMV Payment Card market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABCorp (United States), CPI Card Group (United States), Fiserv, Inc.(United States), Gemalto (Netherlands), Giesecke+Devrient (Germany), GoldPac (China), Oberthur Technologies (France), PAX Technology (China) and Versatile Card Technology Pvt. Ltd.(India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global EMV Payment Card market by Type (Contactless Card, Contact Card and Dual Interface Card), Application (Enterprise Use and Individual Use) and Region.
On the basis of geography, the market of EMV Payment Card has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Card, the sub-segment i.e. Debit will boost the EMV Payment Card market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Dual-Interface EMV Cards
Market Growth Drivers:
Rapid urbanization and digitalization are driving the EMV payment card market. Also, Governments of many countries across the world supporting the cashless transitioning. Along with this due to convenience and requirement of minimal time for transactions increasing use of contactless EMV cards which is attracting the buyers in huge amounts.
Challenges:
Taking Large Time for Process after Card Lost and Regulatory Changes by the Various Governments
Restraints:
Availability of Magnetic Stripes in the EMV Payment Card Easily Duplicates Static Information by Fraudsters
Opportunities:
Rapidly Rising Technological Innovation in EMV Payment Card and Proliferation of Credit Cards Use and Promotional Offers Leads to Grow the EMV Payment Card Market
In June 2023, Aurionpro today launched its first homegrown EMV Card Type Payment terminal (ECR-one) at the UITP Global Public Transport Summit, the world’s leading conference and exhibition, being held in Barcelona, where public transport professionals converge to exchange ideas, foster innovation, and establish valuable connections.
Key Target Audience
EMV Payment Card Providers, Research Professionals, Emerging Companies, Government Body & Associations, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.