New data from EMVCo indicates that almost half (45%) of the world’s cards are Europay MasterCard Visa (EMV), and 76% of all payment terminals in circulation globally are used on EMV technology. EMVCo is jointly owned by American Express, MasterCard and Visa. EMVCo manages, maintains and enhances the EMV Integrated Circuit Card Specifications to ensure global interoperability of chip-based payment cards with acceptance devices including point of sale terminals and ATMs.
Noting the trend in EMV, AJB Software, a payment software integrator, will announce a new EMV migration path for U.S. Retailers on Monday, July 23, 2012. The new solution is designed to accelerate EMV implementations, while making it easy for merchants to integrate with emerging mobile and other POS initiatives.
AJB has completed more than 100 EMV Chip and PIN integrations with merchants throughout Canada and the UK. Many U.S. retailers with Canadian operations have worked with AJB to EMV-enable their Canadian stores, and have experienced a decrease in the amount of customer disputes and reduction in chargebacks and fraud rates compared to their U.S. stores.