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시장보고서
Global EMV Migration and the European Market: 2009
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Abstract
Research Provides Updates on Worldwide EMV Migration
EMV continues to make inroads around the world especially in Europe, Latin
America and Canada. However, growth has slowed down partially due to the
impacts of the global economic downturn with banks forced to slow down or
postpone their migration plans. In some cases these plans are put on hold
indefinitely. The outlook beyond 2010 is less than clear as the European
market gets saturated and growth pools in other regions dry up.
At the same time, as more and more countries adopted EMV, some of the inherent
limitations of EMV became exposed. Though EMV has been quite effective in
reducing mail-non-receipt and lost-and-stolen card frauds, it has minimal
effect in handling other types of frauds especially Card-Not-Present (CNP) and
counterfeit/overseas frauds. Actually, EMV' s effectiveness in reducing certain
types of card fraud appears to have driven card criminals toward other types
of card fraud.
The latest report from Mercator Advisory Group, Global EMV Migration and the
European Market: 2009 provides timely updates on overall EMV migration
worldwide. Progress and trends in EMV card issuance and acceptance are also
discussed. Regional EMV migration overviews are provided for Europe, Asia-Pac,
North America, Latin America, and Africa. EMV' s effects on card fraud profiles
and levels are discussed and the industry' s efforts in addressing some
remaining and new issues. Factors affecting future EMV migration plans around
the world are also discussed. Finally, the report looks at the European market
in depth and provides a country-by-country update on the EMV migration
progress.
"Demand for EMV products and services will continue to be driven by the SEPA
initiative in Western Europe, though emerging markets in Latin America and
Central and Eastern Europe have good potentials as well. China is finally
moving as China UnionPay starts to replace its POS terminals," says Terry Xie,
Director of Mercator Advisory Group"s International Payments Advisory Service
and principal analyst on the report. "But the U.S., still on the sideline
though neighbor pressure from Canada and Mexico, could start to break the ice."
Highlights of the report include:
- EMV penetration among card issuance and acceptance continues to rise.
However, the growth rate has slowed down significantly from previous years.
- Most of the growth in the EMV market over the next two years will be in
Europe and Canada which is moving forward with its own migration. China and
Latin America represent future growth opportunities, but will take time to
develop.
- EMV has been quite successful in reducing lost-and-stolen and
mail-not-receipt card frauds. But the industry still has its work cut out to
deal with increasing CNP and counterfeit card frauds in the international and
e-Commerce markets.
- Liability shift and neighbor pressures, among other factors, will likely
be an increasing factor in driving EMV migration and penetration forward in
the global markets.
- The European market, which faces a Dec. 2010 migration deadline, will
remain strong over the next two years, even though the global economic
downturn might slow down the process in 2009, but this is expected to be
compensated by growth in 2010.
Table of Contents
TABLE OF FIGURES
Introduction
I. State of the Market: EMV Migration 2009
- A. Worldwide Market
- B. Regional Overviews
- C. Growth Outlook
II. EMV and Fraud
- A. Mixed Results
- B. Efforts to Fight Fraud.
- i. Card Not Present (CNP)
- ii. Counterfeit.
- iii. Magstripe Fall Back/Overseas Fraud
III. Moving EMV Migration Forward
- A. Liability Shift and Neighbor Pressure
- B. Contactless/Dual Interface
- C. Multi-application
IV. European Market
- A. Migration Overview
- B. Market Outlook.
- C. Country Review.
V. Conclusions and Observations
TABLE OF FIGURES Figure 1: EMV Deployment and Penetration Worldwide, 2008
- Figure 2: EMV Card in Circulation Worldwide, 2008
- Figure 3: EMV Acceptance in Circulation Worldwide, 2008
- Figure 4: Changes in UK' s Card Fraud Profile, 2005-2007
- Figure 5: Top Market Opportunities for EMV Cards in Europe, 2009-2010
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