ABI Research: Next-Gen Payment Card Form-Factors Now the New Hope to Stem Continued ASP Degradation
In the wake of softening growth in other primary smart card areas, most notably SIM cards, payment card issuance continues its upward growth trajectory. Despite near ubiquitous global uptake of the EMV standard, several factors are stimulating the payment cards market such as new banking clients, increasing wealth in developing areas, and contactless migration. Other factors include new innovations in card form factors, such as metal cards, and powered payment cards that incorporate biometric sensor technology. The net effect is driving EMV payment card issuance from 3.18 billion in 2019 to over 3.75 billion by 2023, according to ABI Research, a market-foresight advisory firm providing strategic guidance on the most compelling transformative technologies.