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In Europe, the migration to EMV is gaining pace.
Here is a quick overview of the situation in the UK, Germany and Belgium.
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In Europe, the UK is pioneering the migration to EMV. The adoption
of this new standard is a huge project involving the installation
of 850000 new Eftpos terminals, the issuance of 122 million new
smart cards to replace the traditional magnetic stripe cards, and
the modification of 40000 ATMs.
Germany has opted for EMV/PIN with the DDA (Dynamic Data Authentication)
function. The 100 million debit cards in circulation in the country
are the first priority.
In Belgium, the switch to EMV involves around 8 million debit
cards and 2.5 million credit cards. Managed by Banksys, the migration
began at the end of 2003 and should be completed by early 2005. The
1200 ATMs have already been EMV operational since June 2003; over
half the number of Eftpos terminals are already EMV compatible, while
the remainder are to be replaced. |
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