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Report: Contactless smart card demand to surge in APAC

Thursday, August 19, 2010

Demand for contactless smart cards in the Asia-Pacific (APAC) region is expected to take off in 2012, according to a new report from Frost & Sullivan. The research firm says completion of several key government-led projects will trigger the growth, including NFC, e-passports and mass transit.

According to the report, shipment of contactless smart cards to the region is expected to grow at a compound annual growth rate (CAGR) of 16.4% from 590 million in 2009 to 1.9 billion units by 2016, generating revenues of approximately $2 billion.

“The world is already prepared to roll out NFC commercial projects with a small number of commercial projects having already begun and more than 200 pilot projects already completed across the globe,” Reuben Fong, research director at Frost & Sullivan. “In Asia-Pacific, we can expect large-scale mobile NFC deployments in the next one to two years.”

According to Fong, these NFC deployments will generate public interest in contactless bank cards, further driving up demand.

Additionally, India, China, the Philippines, Indonesia and Vietnam are all set to implement e-passports within the next five years, and smart card-enabled mass transit projects are on the rise across APAC.

Research and Markets announced the addition of a report concerning the latest state of the Polish contactless payment market.

Entitled “Polish Contactless Payments Market 2011: Issuance, Transactions and Innovations” the report presents detailed analysis based on surveys carried out among all banks issuing contactless payment instruments and acquirers that operated contactless payments on the Polish market.

Asia Pacific leads the world in contactless payments for transit

The Asia Pacific region is one of the largest users of smart cards, so much that it now leads the world in using the cards to pay for travel, reports iTWire.

Survey: Germans coming around to NFC, contactless payments

A new survey from Euro Kartensysteme shows that Germans are starting to embrace the idea of contactless and NFC payments.

Out of 1,040 Germans aged 18-59, 43% responded that they would like to make contactless payments if given the opportunity, of which 58% percent would make their payments with a debit card card, 41% with a credit card and 50% with an NFC phone.

Report: India, the world's fastest growing smart card market

India is emerging as one of the world’s fastest growing smart card markets, according to a new research report by RNCOS. With more than one billion in population and increasing modern application areas, India is anticipated to grow at a compound annual growth rate of approximately 15% during 2011-2014.

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