Published By : 04 Mar 2016 | Published By : QYRESEARCH
The increasing demand for reliable and secure payment transaction across the BFSI and retail industry has fuelled the market for smart cards. In addition, the increasing count of mobile phone subscribers globally and the cost-effective schemes for merchants by a number of payment brands including Europay, Visa, and MasterCard has also augmented the market for smart cards.
The key benefits of using smart cards are as follows:
Owing to the growing benefits of smart cards, their demand is poised to rise in the coming years, thus boosting market growth. However, initial expense in migrating to readers that are smartcard compatible may restrain the growth of the market in forthcoming years.