Payment Cards: The China Effect Taking Hold

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3Q 2014 | IN-1019832

It Was All about China in 2013

NEWS


After analyzing the smart payments card market and compiling full-year 2013 market share analysis for both smart card and IC vendors, it quickly became apparent that the “China effect” was beginning to take hold. It is no secret that China is in the midst of large-scale migration, moving away from mag-stripe cards toward its smart PBOC 3.0 specification. NXP has been very vocal in its expectations, being a chosen IC supplier to the region, but such a big project raises the question of sustainable growth rates and realistic future market expectations. The success of China has somewhat provided a distorted hyped-up market view. Once China completes migration, payment card shipments into the country will likely settle, being more reliant upon new banking customers and replacements. At this point the question of growth sustainability has to be asked. Where will the next wave of growth stem from and what are the realistic expectations within the future worldwide sm...

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