Global Dual Interface Payment Card Market Size, Share & Industry Trends Analysis Report By Type (Plastic and Metal), By End Use (Retail, Transportation, Healthcare, Hospitality, and Others), By Regional Outlook and Forecast, 2022 - 2028
The Global Dual Interface Payment Card Market size is expected to reach $17.9 billion by 2028, rising at a market growth of 16.8% CAGR during the forecast period.
A contactless payment card with both NFC and a magnetic stripe is known as a dual interface payment card. This enables the user to utilize their smartphone, watch, tablet, or other connected device to swipe or tap at point-of-sale terminals and to perform in-app payments. For example, in 2009, Mastercard launched its PayPass/PayWave product line, which features two kinds of product lines: contactless (RFID) for usages with mobile devices as well as conventional magstripe for usages at POS terminals without wireless communication capacity.
This was the first time a payment card had two interfaces. Due to its ability to offer smooth connectivity across older technology platforms like smartphones and legacy systems, dual interface cards have indeed been widely utilized throughout sectors. Microcontroller chips as well as memory chips are the other two types of chips included in these cards. A memory chip is comparable to a tiny floppy disc with added protection.
Despite being less affordable than microcontrollers, memory chips have less security for data handling. Memory chip cards rely on the card reader's safety for processing which are the best option for circumstances requiring low or medium security. A microcontroller chip has the ability to modify its memory via adding, deleting, and other means. A microcontroller resembles a tiny computer since it has an operating system, hard drive, and input/output interface.
Smart cards with integrated microcontrollers have the special capacity to store a lot of data, perform on-card tasks (such as encryption and digital signatures), and communicate with smart card readers in a thoughtful way. A contactless transaction is one in which the point-of-sale (POS) terminal and the customer's payment device do not make direct physical touch. In close proximity to a terminal, the customer is holding a payment device (like a contactless or dual-interface chip card or mobile device), and payment account information is sent instantly through radio frequency (RF).
COVID-19 Impact Analysis
The commercial introduction of the Dual Interface Payment Card Market industry may also be significantly delayed as a result of the economic crisis that followed the pandemic. The base of technology providers, small and medium-sized businesses, have seen a sharp decline in revenue that since pandemic's debut in 2020. As a result of the supply chain disruptions, market participants faced several difficulties. But, as more supplies come back online in the second half of 2022, things should get better. Over the course of the projection period, the COVID-19 pandemic significantly influenced the growth of the dual interface payment card market.
Market Growth Factors
Rising Demand For Biometric-Based Dual Interface Payment Card Among Banks
The number of scams is rising daily, and this is happening at the same time that bank customers are getting older. Payment cards with a dual-interface based on biometrics are becoming more popular as a solution to this issue. Banks are now implementing cutting-edge technologies to address security issues with important data. In order to make it more challenging for fraudsters to access bank accounts, banks are also utilizing fingerprint or iris monitoring as an authentication measure for current passwords. Customers can instantly access their bank details with these new cards.
Enhancements In The Longevity Of The Cards
The market for dual interface payment cards is growing faster due to increased card life. Better cards with decreased magnetic stripe performance are now being offered by service providers, helping to shield them against data loss. Among some of the best instances of these cards' innovation are contactless smart cards with Wi-Fi module transactions permitted. Customers tend to use their cards for a lengthier period of time because the cards get a longer lifespan before they expire.
Market Restraining Factors
Rise In The Security Concerns Among Individuals
In the event that a contactless card is lost or stolen, there is concern about unauthorized purchases because the transaction does not require a PIN to be authorized. It is often a smart option to inform the issuing bank about this situation. Several banks offer a 100% fraud guarantee, absolving customers of all liability as long as they utilize it responsibly. Devices for mobile contactless payments might not function abroad. Certain mobile wallets utilized for contactless payments are not accepted abroad, although similar technology. A separate overseas transaction fee can also apply.
Type Outlook
On the basis of type, the dual interface payment card market is bifurcated into Plastic and Metal. The plastic segment procured the highest revenue share in the dual interface payment card market in 2021. The industry's continuing technical development in both developed and developing economies around the world is what is causing the segment to grow. To diversify their product options, a number of vendors have begun to provide environmentally friendly plastic cards produced from recycled plastic.
End-Use Outlook
Based on end-use, the dual interface payment card market is segmented into Retail, Transportation, Healthcare, Hospitality and Others. The transportation segment registered a substantial revenue share in the dual interface payment card market in 2021. The segment expansion is predicted to be fueled by the growing preference for a contactless transportation payment solution in smart cities. Additionally, due to reasons like availability and convenience, contactless payment transactions have increased in comparison to cash payments throughout the transportation sector.
Regional Outlook
Region-wise, the dual interface payment card market is analyzed across North America, Europe, Asia Pacific and LAMEA. North America emerged as the leading region in the dual interface payment card market with the largest revenue share in 2021. This supremacy is due to the presence of numerous notable players, including MasterCard and American Express. Additionally, market participants in North America are working to introduce dual-interface cards that will let customers use both credit & debit cards with contactless technology.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thales Group S.A., IDEMIA SAS (Advent International, Inc.), CPI Card Group (Parallel49 Equity), Giesecke & Devrient GmbH, Watchdata Co., Ltd., Eastcompeace Technology Co., Ltd. (Potevio Group), Paragon Group Limited, Valid S.A., and Wuhan Tianyu Information Industry Co., Ltd.
Scope of the Study
Market Segments covered in the Report:
By Type
- Plastic
- Metal
- Retail
- Transportation
- Healthcare
- Hospitality
- Others
- North America
Canada
Mexico
Rest of North America
- Europe
UK
France
Russia
Spain
Italy
Rest of Europe
- Asia Pacific
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific
- LAMEA
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA
Companies Profiled
- Thales Group S.A.
- IDEMIA SAS (Advent International, Inc.)
- CPI Card Group (Parallel49 Equity)
- Giesecke & Devrient GmbH
- Watchdata Co., Ltd.
- Eastcompeace Technology Co., Ltd. (Potevio Group)
- Paragon Group Limited
- Valid S.A.
- Wuhan Tianyu Information Industry Co., Ltd.
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- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global Dual Interface Payment Card Market, by Type
- 1.4.2 Global Dual Interface Payment Card Market, by End Use
- 1.4.3 Global Dual Interface Payment Card Market, by Geography
- 1.5 Methodology for the research
- Chapter 2. Market Overview
- 2.1 Introduction
- 2.1.1 Overview
- 2.1.1.1 Market Composition and Scenario
- 2.2 Key Factors Impacting the Market
- 2.2.1 Market Drivers
- 2.2.2 Market Restraints
- Chapter 3. Global Dual Interface Payment Card Market by Type
- 3.1 Global Plastic Market by Region
- 3.2 Global Metal Market by Region
- Chapter 4. Global Dual Interface Payment Card Market by End-use
- 4.1 Global Retail Market by Region
- 4.2 Global Transportation Market by Region
- 4.3 Global Healthcare Market by Region
- 4.4 Global Hospitality Market by Region
- 4.5 Global Others Market by Region
- Chapter 5. Global Dual Interface Payment Card Market by Region
- 5.1 North America Dual Interface Payment Card Market
- 5.1.1 North America Dual Interface Payment Card Market by Type
- 5.1.1.1 North America Plastic Market by Country
- 5.1.1.2 North America Metal Market by Country
- 5.1.2 North America Dual Interface Payment Card Market by End-use
- 5.1.2.1 North America Retail Market by Country
- 5.1.2.2 North America Transportation Market by Country
- 5.1.2.3 North America Healthcare Market by Country
- 5.1.2.4 North America Hospitality Market by Country
- 5.1.2.5 North America Others Market by Country
- 5.1.3 North America Dual Interface Payment Card Market by Country
- 5.1.3.1 US Dual Interface Payment Card Market
- 5.1.3.1.1 US Dual Interface Payment Card Market by Type
- 5.1.3.1.2 US Dual Interface Payment Card Market by End-use
- 5.1.3.2 Canada Dual Interface Payment Card Market
- 5.1.3.2.1 Canada Dual Interface Payment Card Market by Type
- 5.1.3.2.2 Canada Dual Interface Payment Card Market by End-use
- 5.1.3.3 Mexico Dual Interface Payment Card Market
- 5.1.3.3.1 Mexico Dual Interface Payment Card Market by Type
- 5.1.3.3.2 Mexico Dual Interface Payment Card Market by End-use
- 5.1.3.4 Rest of North America Dual Interface Payment Card Market
- 5.1.3.4.1 Rest of North America Dual Interface Payment Card Market by Type
- 5.1.3.4.2 Rest of North America Dual Interface Payment Card Market by End-use
- 5.2 Europe Dual Interface Payment Card Market
- 5.2.1 Europe Dual Interface Payment Card Market by Type
- 5.2.1.1 Europe Plastic Market by Country
- 5.2.1.2 Europe Metal Market by Country
- 5.2.2 Europe Dual Interface Payment Card Market by End-use
- 5.2.2.1 Europe Retail Market by Country
- 5.2.2.2 Europe Transportation Market by Country
- 5.2.2.3 Europe Healthcare Market by Country
- 5.2.2.4 Europe Hospitality Market by Country
- 5.2.2.5 Europe Others Market by Country
- 5.2.3 Europe Dual Interface Payment Card Market by Country
- 5.2.3.1 Germany Dual Interface Payment Card Market
- 5.2.3.1.1 Germany Dual Interface Payment Card Market by Type
- 5.2.3.1.2 Germany Dual Interface Payment Card Market by End-use
- 5.2.3.2 UK Dual Interface Payment Card Market
- 5.2.3.2.1 UK Dual Interface Payment Card Market by Type
- 5.2.3.2.2 UK Dual Interface Payment Card Market by End-use
- 5.2.3.3 France Dual Interface Payment Card Market
- 5.2.3.3.1 France Dual Interface Payment Card Market by Type
- 5.2.3.3.2 France Dual Interface Payment Card Market by End-use
- 5.2.3.4 Russia Dual Interface Payment Card Market
- 5.2.3.4.1 Russia Dual Interface Payment Card Market by Type
- 5.2.3.4.2 Russia Dual Interface Payment Card Market by End-use
- 5.2.3.5 Spain Dual Interface Payment Card Market
- 5.2.3.5.1 Spain Dual Interface Payment Card Market by Type
- 5.2.3.5.2 Spain Dual Interface Payment Card Market by End-use
- 5.2.3.6 Italy Dual Interface Payment Card Market
- 5.2.3.6.1 Italy Dual Interface Payment Card Market by Type
- 5.2.3.6.2 Italy Dual Interface Payment Card Market by End-use
- 5.2.3.7 Rest of Europe Dual Interface Payment Card Market
- 5.2.3.7.1 Rest of Europe Dual Interface Payment Card Market by Type
- 5.2.3.7.2 Rest of Europe Dual Interface Payment Card Market by End-use
- 5.3 Asia Pacific Dual Interface Payment Card Market
- 5.3.1 Asia Pacific Dual Interface Payment Card Market by Type
- 5.3.1.1 Asia Pacific Plastic Market by Country
- 5.3.1.2 Asia Pacific Metal Market by Country
- 5.3.2 Asia Pacific Dual Interface Payment Card Market by End-use
- 5.3.2.1 Asia Pacific Retail Market by Country
- 5.3.2.2 Asia Pacific Transportation Market by Country
- 5.3.2.3 Asia Pacific Healthcare Market by Country
- 5.3.2.4 Asia Pacific Hospitality Market by Country
- 5.3.2.5 Asia Pacific Others Market by Country
- 5.3.3 Asia Pacific Dual Interface Payment Card Market by Country
- 5.3.3.1 China Dual Interface Payment Card Market
- 5.3.3.1.1 China Dual Interface Payment Card Market by Type
- 5.3.3.1.2 China Dual Interface Payment Card Market by End-use
- 5.3.3.2 Japan Dual Interface Payment Card Market
- 5.3.3.2.1 Japan Dual Interface Payment Card Market by Type
- 5.3.3.2.2 Japan Dual Interface Payment Card Market by End-use
- 5.3.3.3 India Dual Interface Payment Card Market
- 5.3.3.3.1 India Dual Interface Payment Card Market by Type
- 5.3.3.3.2 India Dual Interface Payment Card Market by End-use
- 5.3.3.4 South Korea Dual Interface Payment Card Market
- 5.3.3.4.1 South Korea Dual Interface Payment Card Market by Type
- 5.3.3.4.2 South Korea Dual Interface Payment Card Market by End-use
- 5.3.3.5 Singapore Dual Interface Payment Card Market
- 5.3.3.5.1 Singapore Dual Interface Payment Card Market by Type
- 5.3.3.5.2 Singapore Dual Interface Payment Card Market by End-use
- 5.3.3.6 Malaysia Dual Interface Payment Card Market
- 5.3.3.6.1 Malaysia Dual Interface Payment Card Market by Type
- 5.3.3.6.2 Malaysia Dual Interface Payment Card Market by End-use
- 5.3.3.7 Rest of Asia Pacific Dual Interface Payment Card Market
- 5.3.3.7.1 Rest of Asia Pacific Dual Interface Payment Card Market by Type
- 5.3.3.7.2 Rest of Asia Pacific Dual Interface Payment Card Market by End-use
- 5.4 LAMEA Dual Interface Payment Card Market
- 5.4.1 LAMEA Dual Interface Payment Card Market by Type
- 5.4.1.1 LAMEA Plastic Market by Country
- 5.4.1.2 LAMEA Metal Market by Country
- 5.4.2 LAMEA Dual Interface Payment Card Market by End-use
- 5.4.2.1 LAMEA Retail Market by Country
- 5.4.2.2 LAMEA Transportation Market by Country
- 5.4.2.3 LAMEA Healthcare Market by Country
- 5.4.2.4 LAMEA Hospitality Market by Country
- 5.4.2.5 LAMEA Others Market by Country
- 5.4.3 LAMEA Dual Interface Payment Card Market by Country
- 5.4.3.1 Brazil Dual Interface Payment Card Market
- 5.4.3.1.1 Brazil Dual Interface Payment Card Market by Type
- 5.4.3.1.2 Brazil Dual Interface Payment Card Market by End-use
- 5.4.3.2 Argentina Dual Interface Payment Card Market
- 5.4.3.2.1 Argentina Dual Interface Payment Card Market by Type
- 5.4.3.2.2 Argentina Dual Interface Payment Card Market by End-use
- 5.4.3.3 UAE Dual Interface Payment Card Market
- 5.4.3.3.1 UAE Dual Interface Payment Card Market by Type
- 5.4.3.3.2 UAE Dual Interface Payment Card Market by End-use
- 5.4.3.4 Saudi Arabia Dual Interface Payment Card Market
- 5.4.3.4.1 Saudi Arabia Dual Interface Payment Card Market by Type
- 5.4.3.4.2 Saudi Arabia Dual Interface Payment Card Market by End-use
- 5.4.3.5 South Africa Dual Interface Payment Card Market
- 5.4.3.5.1 South Africa Dual Interface Payment Card Market by Type
- 5.4.3.5.2 South Africa Dual Interface Payment Card Market by End-use
- 5.4.3.6 Nigeria Dual Interface Payment Card Market
- 5.4.3.6.1 Nigeria Dual Interface Payment Card Market by Type
- 5.4.3.6.2 Nigeria Dual Interface Payment Card Market by End-use
- 5.4.3.7 Rest of LAMEA Dual Interface Payment Card Market
- 5.4.3.7.1 Rest of LAMEA Dual Interface Payment Card Market by Type
- 5.4.3.7.2 Rest of LAMEA Dual Interface Payment Card Market by End-use
- Chapter 6. Company Profiles
- 6.1 Thales Group S.A.
- 6.1.1 Company Overview
- 6.1.2 Financial Analysis
- 6.1.3 Segmental and Regional Analysis
- 6.1.4 Research and Development Expense
- 6.2 IDEMIA SAS (Advent International, Inc.)
- 6.2.1 Company Overview
- 6.2.2 Recent strategies and developments:
- 6.2.2.1 Product Launches and Product Expansions:
- 6.2.2.2 Acquisition and Mergers:
- 6.2.2.3 Geographical Expansions:
- 6.3 CPI Card Group (Parallel49 Equity)
- 6.3.1 Company Overview
- 6.3.2 Financial Analysis
- 6.3.3 Segmental Analysis
- 6.3.4 Recent strategies and developments:
- 6.3.4.1 Product Launches and Product Expansions:
- 6.4 Giesecke & Devrient GmbH
- 6.4.1 Company Overview
- 6.4.2 Financial Analysis
- 6.4.3 Segmental Analysis
- 6.4.4 Research & Development Expense
- 6.5 Watchdata Co., Ltd.
- 6.5.1 Company Overview
- 6.6 Eastcompeace Technology Co., Ltd. (Potevio Group)
- 6.6.1 Company Overview
- 6.7 Paragon Group Limited
- 6.7.1 Company Overview
- 6.7.2 Financial Analysis
- 6.7.3 Segmental Analysis
- 6.8 Valid S.A.
- 6.8.1 Company Overview
- 6.8.2 Financial Analysis
- 6.8.3 Segment & Regional Analysis
- 6.9 Wuhan Tianyu Information Industry Co., Ltd.
- 6.9.1 Company Overview
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