Smart card technology is gaining immense prominence as a reliable solution that ensures safe and hassle-free public transportation, especially in wake of the COVID-19 pandemic. The transportation industry will continue to be a major adopter of smart card devices, given the rising back-to-office and back-to-school trends.

Furthermore, the technology is becoming a key enabler of healthcare innovation, as it ensures security against healthcare fraud and safeguards patient information, thus driving smart card market innovation during the pandemic. Smart cards have also become increasingly important in multiple industry verticals, including financial services.

As a part of the ‘One Nation, One Card’ initiative, Paytm launched a transit card for bus, metro, rail, and parking payments in India in November 2021. This smart card, linked to Paytm Wallet, can be adopted for various transactions, ranging from travel in metros, trains, and buses, to paying toll and parking charges.

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First-of-its-kind, smart Airtel Axis Bank Credit Card launch

To strengthen the digital ecosystem, prominent firms operating in the telecommunications and banking sectors are entering partnership agreements, widening access to credit cards and other digital financial offerings.

For example, in March 2022, Bharti Airtel and Axis Bank partnered to boost the adoption of digital payments in India. Over the coming months, the two firms have plans to bring innovative financial offerings as well as digital services, exclusively for the 340 million+ customers of Airtel. The collaboration was kicked-off with the launch of the Airtel Axis Bank Credit Card, offering a host of attractive benefits such as cashback and digital vouchers, and contributing to the smart credit card business landscape.

Hawaii SMART Health Card for digital verification of health status

Over the past year, COVID-19 response plans and programs have been introduced to mitigate virus spread and ensure safe access to restaurants and bars, arcades, and other entertainment venues. The Safe Access O‘ahu program, for instance, was set up to mandate people to show their physical proof of vaccination or negative test report to enter high-risk, enclosed-space venues in Hawaii.

Such programs are influencing countries like the U.S. to rely on smart cards as a response measure. A significant example is the issuance of the Hawaii SMART Health Card in September 2021, which can digitally save the CDC vaccination card on mobile phones and replace physical cards. Initiatives to ensure a seamless verification of vaccination status like these could enable the U.S. smart card market to grow exponentially.

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Mobilo contactless smart card rollout as standard paper card alternative

Consumers are growing increasingly inclined towards modern, technological approaches to business than conventional paper cards. To address the changing needs, smart business card providers are pivoting toward the introduction of contactless solutions.

For instance, in May 2021, Mobilo unveiled an eco-friendly contactless business card to eliminate the manual process of transferring various data from cards into contact lists. The card also can automatically sync the information into a CRM (customer relationship management) system, while combating global warming and ensuring cost savings from reduced usage of paper cards.

With the mounting production of hassle-free products such as these, and the rise of customer-oriented marketing techniques, the smart card industry could witness a major upsurge in the years ahead.

Global Smart Card Market growth will be positively affected by the notable presence of reputed organizations, such as CardLogix Corporation, Cardcom Technology, Infineon Technologies AG, Verifone Inc., CPI Card Group, NXP Semiconductors NV

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