In the overall smart card market, the payment card vertical proved once again to be a particular highlight in 2014, achieving YoY growth of 24.6% driven by China’s continued migration to its PBOC standard, shipping volumes in excess of 600 million. EMV issuance in the United States also ramped up, exceeding initial expectations with shipments in excess of 180 million.
On top of overall growth is the increasing move to contactless—which accounted for 42% of all shipments in 2014—and increasingly a higher value proposition for smart card vendors to target.
With the market approaching critical mass, migration to higher-end solutions will become ever important factors to maintain shipment and revenue growth. There only remain a handful of countries left to commit to EMV / smart card migration and strategies now need to focus on movement up the value chain, product differentiation and new developments targeting mobile payment platforms.
ABI Research’s Payment & Banking Card Technologies competitive assessment takes a closer look at the current market status quo, providing an independent look at each vendors’ current market position, strategies, and future outlook. Included in the competitive assessment is a vendor matrix whereby all the major smart card vendors operational within the payment cards market were judged and scored according to a set of criteria falling within the broader “Implementation” and “Innovation” categories. Each vendor was assessed against a total of 10 criteria and accordingly ranked based on scores achieved.