New York, According to a new market research report published by Global Insight Services “Dual Interface Payment Card Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A dual interface payment card is a credit or debit card that can be used in both contact and contactless payment systems. The card contains a chip that can be read by a card reader when the card is inserted into a slot, as well as a radio frequency (RFID) antenna that can be read by a contactless reader when the card is held near the reader.
Dual interface cards offer the convenience of contactless payments for small transactions, such as retail purchases, while still allowing the card to be used for larger transactions, such as at an ATM, where a card reader is required. The use of dual interface cards is growing as more retailers adopt contactless payment systems.
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Key Trends
There are a few key trends in dual interface payment card technology. First, the technology is becoming more widespread. More and more financial institutions are offering cards with a dual interface, and more retailers are accepting them as payment. Second, the technology is becoming more sophisticated. Cards with a dual interface are now able to store more information and offer more features than ever before. Finally, the technology is becoming more affordable. Cards with a dual interface are now more affordable than ever before, making them a more viable option for consumers.
Key Drivers
The key drivers of the Dual Interface Payment Card market are the increasing adoption of smart cards, the growing demand for contactless payments, and the need for enhanced security.
Smart cards are becoming increasingly popular as they offer a number of advantages over traditional cards, such as the ability to store more data and the ability to be used for multiple applications. Contactless payments are also growing in popularity as they offer a more convenient and quicker payment experience. In addition, the need for enhanced security is driving the adoption of dual interface cards as they offer an extra layer of security.
Market Segments
The dual interface payment card market bifurcated on the basis of type, application, and region. On the basis of type, it is segmented into plastic and metal. By application, it is analyzed across retail, healthcare, transportation, hospitality, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Players
The dual interface payment card market report includes players such as Thales Group, IDEMIA, VALID, Giesecke+Devrient GmbH, Eastcompeace Technology Co., Ltd., DATANG, Paragon Group Limited, CPI Card Group Inc., Watchdata Co., Ltd., and Wuhan Tianyu.
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Reasons to buy Dual Interface Payment Card Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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