Many countries around the world have been converting smart card usage into many different service industries such as Sim cards integrated payment in telecommunications, applications in automating bus ticket payment. , tram in the transport, electronic identity cards in the field of state management or the type of payment card of the banking industry ….
With more and more applications in various industries, smart card market is growing rapidly in the past few years. Smart cards are used most in telecommunications as a SIM card. However, applications in many other fields such as transportation, government, financial services are also invested and deployed because of the outstanding advantages of smart cards such as large data storage capacity, fast processing. Quick and effective data security methods.
According to RNCOS’s “Card Market Forecast to 2012” report, smart cards grew more than 10% in 2010 compared to 2009, in which the market was largely held by four major companies, Gemalto, Oberthur, Sagem Orga (Ingenico) and Giesecke & Devrient. Also according to this report, the number of smart card projects also increased worldwide with a high degree of diversity and high technology demand.
Moreover, the economic boom and high technical requirements in the field of digital security also increase the level of demand for smart cards. According to a study, the smart card market will achieve double-digit growth (CAGR of about 12%) between 2011 and 2013.
In the banking sector, the EMV card alliance (Euro Pay, MasterCard and VISA) is the foundation for many investment banks to deploy smart card issuance solutions. Around the world, countries have transitioned to the EMV system for a long time. Europe changed in 1996, typically France and England. Asia – like Japan and South Korea also conducted from 2003-2004. In Southeast Asia – Malaysia and Singapore were the first countries to convert their card payment systems to the EMV standard since 2005, followed by Thailand, Indonesia, Philippines and Vietnam. According to EMVCo, by the end of the first quarter of 2011, about 1.2 billion EMV chip cards have been issued and 18.7 million POS points accept EMV cards in operation worldwide. These figures are equivalent to 40.1% of the total number of payment cards in circulation and 71% of the number of POS installed globally.
Also according to this report, the expected average growth rate of contactless card technology from 2011 to 2013 is about 24% covering many different areas such as mobile payment, transportation or digital proof of goverment.
Tin tức khác
The Covid-19 pandemic created opportunities to promote the development of electronic payments
The time of the Covid-19 pandemic spread was a difficult period for both the economy in general and the banking and financial sector in particular, but it also created an opportunity to promote the growth of electronic payment. . Financial institutions, banks and Fintech companies that take advantage of this difficult period to turn into
Xem chi tiết
Thanh toán điện tử tăng đột biến trong Covid-19
Người dùng chuyển sang thanh toán qua thẻ, ứng dụng di động, mã QR… để tăng an toàn và tiện lợi trong Covid-19, đồng thời hưởng ưu đãi từ ngân hàng. Chưa từng dùng ứng dụng ngân hàng để thanh toán hóa đơn, chị Thu Hồng (quận 8, TP HCM), bất ngờ vì tính tiện
Xem chi tiết
Did you know that contactless swipe?
Contactless payment was born, contributing to increasing the confidentiality and security of customers’ information during the transaction process, limiting customers being taken advantage of. Following the payment trend with QR Code, Contactless Payment is a modern payment method, which has just been deployed in Vietnam market recently. Compared with conventional cards, Chip cards with Contactless
Xem chi tiết
Magnetic cards are slowly “dead”
There have been many commercial banks issuing domestic chip cards to customers and gradually replacing card-accepting devices. Commercial banks are about to issue new domestic cards that must be chip cards, instead of magnetic cards as currently, to ensure the transition of magnetic cards to chips in 2021. This is the highlight at the project.
Xem chi tiết
Conversion of chip cards – one of the major goals of the State Bank
According to the SBV’s roadmap specified in Circular No. 41/2018 / TT-NHNN, by the end of 2020, 100% of ATMs and card acceptance devices at point of sale operating in Vietnam of card payment institutions must Comply with local standard chip card. The first domestic chip cards from Vietnam were officially launched on May 28,
Xem chi tiết
Accept ‘team’ cost for customer experience using chip card
At the request of the State Bank of Vietnam (SBV), by the end of 2019, at least 30% of ATM cards and 50% of POS devices at points of sale in circulation throughout the country must comply with the standards. base on domestic chip card standard. However, the biggest problem with banks when switching from
Xem chi tiết
