People have been forced to maintain social distance as aresult of the Covid-19 pandemic. As a result, the need for cashlesstransactions has increased. Even tiny businesses are going cashless. They'verealised that, in addition to rapid and reliable transactions, PoweredSmart Card provide convenience and ensure sanitation (ascross-contamination is avoided because no currency is passed from one hand toanother).
As a small effort to combat the spread of Covid-19, thehospitality industry and governments are promoting digital payment. Forexample, the Reserve Bank of India urged Indians to use cashless transactionsas early as March 2020. Smart cards with dual interfaces can be used with any POSterminal or card reader. Both contactless and contact interfaces areconceivable, as the term "dual-interface" suggests. The cards appearto be EMV chip and RFID technology implementations. Customers will spend lesstime waiting because of the quick payment processing. In this vein, CPI CardGroup, Inc. released proprietary encased tungsten & steel cards withdual-interface EMV technology in January 2020. Other companies, such as NXPSemiconductor, are focusing on the creation of a cost-effective processor fordual-interface cards. These prominent players' actions are sure to take the PoweredSmart Card market by storm.
The UICC (Universal Integrated Circuit Card) is anew-generation technology that has been tailored for cutting-edge wirelessnetwork standards. It does have a number of new features, such as improved IPaddressing and support for multiple apps. These requirements can be met withdual-interface smart cards.
The Powered Smart Card market in the United States isbeing catalysed by rapid use of eSIM and technological advancements in IoT/M2M.According to research, nearly 10 billion secure eSIMs were issued in the UnitedStates alone in 2019. The addition of a card allows phones to store customeraccount information and payment applications in a more secure manner.
In 2019, Europe had the biggest market share, and this trendis projected to continue in the future. This could be due to the fact thatconsumers in the United Kingdom value self-service capabilities because itsaves time and allows for hassle-free travel. In addition, in London's NationalRail System, contactless cards are being adopted as an environmentally friendlyalternative to paper tickets. Furthermore, the city has developed the"Oyster Card Payment" method for public transportation to make traveleasier, more convenient, and faster.
Furthermore, a slew of transportation companies isincorporating innovative features to make clients' journeys easier. Forexample, in September 2019, the SWR (South Western Railway) announced thelaunch of Tap2Go account-based smart card ticketing. According to the SWR, itcan be utilised outside of London. The cards assist in calculating anappropriate fare and allow passengers to keep their cards up to date with othertickets (such as season tickets).
The major firms are anticipating the integration of newtechnology into the cards in order to improve client satisfaction. On thesebasis, CardLogix Corporation released an IDBX (Instant Biometric Smart CardIssuance System) in June 2019 to simplify multi-app biometric enrolment. Thecard is also useful for remote desktop access. The solution does allow for thecapture of a person's face, iris, fingerprints, biographic data, and signature,as well as the encoding, verification, and printing of data on a contactless orcontact card.
We use a multi-disciplinary approach to assisting businessesin overcoming tough business challenges. At PMR, we combine data streams from avariety of multi-dimensional sources. We provide business insight toenterprises of all sizes by leveraging real-time data collecting, big data, andcustomer experience analytics.
