Dual Interface Payment Cards Market Size 2022, By Segments,

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Dual interface payment card market

The global dual interface payment card market is currently valued at USD 1481.84 billion and is projected to reach an annual valuation of USD 5132.68 billion by 2030, registering a CAGR of 16.8% over the forecast period.

A dual interface payment card is called a type of debit or credit card that has a single embedded chip allowing it to be used for contactless and contact transactions. This chip has the ability to work in traditional EMV readers and is also integrated with radio technology that allows it to facilitate contactless transactions. These cards are mainly used in industries such as BFSI, telecommunications and retail marketing, among others.

What are the main propellants and brakes on the expansion of this commercial sphere?

Growing demand for contactless payment options, widespread digital evolution, and increasing integration of advanced technologies such as cloud computing in the financial sector are mainly increasing the prospects of this industry vertical. At the same time, the increasing adoption of dual biometric interface payment cards due to their benefits such as better risk management is positively influencing the market dynamics.

In addition, these cards offer benefits such as fast transaction processing, increased card longevity and flexibility of use. This in turn creates lucrative opportunities for this vertical business to thrive.

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In addition, the increase in investment by capital companies in debit and credit card companies is boosting the overall dynamics of the sector. Moreover, the growing enthusiasm of consumers for online purchases contributes to the development of this market.

On the contrary, the lack of knowledge among the masses regarding the benefits of these cards hampers the scope of earnings from this sphere of the industry.

Sector assessment of the global dual interface payment card market

Type-based

Plastic
Metal
The plastic segment is expected to accumulate notable gains over the period 2022-2030 due to the growing adoption of plastic credit and debit cards due to their light weight and ease of use.

In terms of end use, the commercial sphere is fragmented into corporate use and individual use. The individual usage segment is expected to capture a substantial share of revenue owing to the growing inclination of the masses towards contactless payment methods.

By app

SIM cards & telecommunications
Enterprise and network security
Loyalty and stored value
Control of on-board medical devices
E-commerce
Bank-issued chip cards
Securing digital content
Physical assets
Health informatics
Among these, the e-commerce segment is expected to generate significant returns over the stipulated period. This is attributed to the growing preference of the masses for online shopping.

Explain the geographic scope and competitive terrain of this industry vertical

North America, Middle East & Africa, Europe, Asia-Pacific, and Latin America are the major regions making up the geographical scope of the global dual interface payment card market. Among these, Asia-Pacific is expected to exhibit lucrative progression trends over the period 2022-2030. This is attributed to the boom in the consumer electronics industry, the growing demand for loyalty cards, and widespread technological developments in the field.

The major players operating in the vertical industry are CardLogix, CPI Card Group, DATANG, Dzcard, Eastcompeace Technology Co., Ltd., Gemalto, Giesecke+Devrient GmbH, GoldPac, HENGBAO, HID Global Corporation, IDEMIA, Infineon Technologies AG, Inteligensa, Oberthur Technologies, OT-Morpho G&D, Paragon Group Limited, Thales Group, VALID, Watchdata and Wuhan Tianyu.

In particular, in January 2020, Confidex signed a partnership agreement with the Thales group to enrich its product portfolio and exploit emerging markets.

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This press release was published on openPR.

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