News

Australia's EMV card issuance expected to grow in '06

February 7, 2006

ePaynews.com:In 2006, Australia's banks will issue 11.9 million EMV cards, significantly more than the 7.9 million issued in 2005. By 2009, EMV cards will account for most of the smart card market. Visa Australia reports that between 60 percent and 70 percent of its POS terminals are now EMV-enabled. Under the Asia-Pacific's regional EMV mandate, liability for fraud on magnetic-stripe terminals shifted to acquiring banks Jan. 1, 2006.