Crossing Market Vertices: The Future for Physical and Digital Smart Cards
The year 2018 may be the beginning of an exciting new era for smart cards and mobile wallets, as various companies are looking to expand their products from their original service (e.g., payment, transport, access, and ID) outward. Mobile wallet company GrabPay (Singapore) is considering expansion of its payment services from taxi and in-store purchases to include public transport. Apple, Samsung, and Google Pay have all begun expanding their respective mobile payment solutions to support closed-loop transit applications, expanding beyond the open loop capabilities. Most notably, Apple Pay has announced support for the FeliCa protocol, and Google has entered the closed-loop ticketing market via the integration of MIFARE 2GO. WeChat (China) is expanding into healthcare, allowing users to leverage the app to access medical services without the need of an extra smart card.
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