EMV remains the dominant force in cashless consumer transactions, despite growing competition from instant payments. Within an increasingly dynamic payments ecosystem, this globally recognised standard continues to offer stakeholders a compelling set of benefits.
Much of the growth in EMV payments is of course being fuelled by eCommerce. It is further supported by enthusiastic consumer adoption of digital payment cards. As a result, there is a tendency for these particular elements to monopolise attention. But in terms of the payment cards market, the real story here is not one of digital cards inexorably replacing their physical equivalents. Digital and physical will not only co-exist, but complement one another as consumers look to mix and match their payment cards to suit individual preferences. In fact, the really significant shift in consumer transactions is the move away from cash. Going forwards, both physical and digital EMV cards will continue to grow in volume and usage.
Download the whitepaper
to discover how Instant issuance of physical cards offers a dramatic change to the UX.