London, 27 January 2015 – TechNavio, a tech-focused research firm, has published a new report on the Global Banking and Payment Smart Cards Market, which is expected to grow at a CAGR of 10.4 percent from 2014-2019.
The latest report from TechNavio emphasizes the increased adoption of near field communication (NFC) payments. NFC-enabled devices can operate in read/write, peer-to-peer or card emulation mode. For contactless mobile payments, an NFC-enabled mobile device operates in card emulation mode and it appears as a contactless smart card to the external card reader.
“Increased adoption of NFC-based payments will fuel the growth of the Global Banking and Payment Smart Cards Market,” says Faisal Ghaus, Vice President of TechNavio.
The report also highlights the increasing adoption of smart cards in North America. Despite being a developed region, the use of smart cards in North America is currently very low because of the late deployment of the technology in the region, and low adoption in the introduction stage.
“The North American segment of the market is expected to grow quickly during the forecast period, which will lead to increase revenue in the Global Banking and Payment Smart Cards Market,” says Ghaus.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
https://www.technavio.com/%3Cp%3E%3Cstrong%3EAbout%20TechNavio%3C/strong%…
