The Malaysian payment cards instrument registered positive growth during the review period (2009–2013), recording a compound annual growth rate (CAGR) of 7.09% to reach 50.5 million cards in circulation by the end of 2013. In terms of transaction value, payment cards valued MYR402.9 billion (US$128.2 billion) in 2013, after registering a review-period CAGR of 6.87%. Robust economic performance, improved banking infrastructure, new product developments and growing acceptance of card-based payments at POS terminals and on public transport were key factors driving growth. The adoption of Europay, MasterCard and Visa (EMV) standards, and the emergence of contactless technology also supported the growth.