Dual Interface Payment Card Market - Increased Demand for Biometric-Based Dual Interface Cards in Many Banks is expected to Lead to Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 16.2% from 2022 to 2028

Dual Interface Payment Card
  • Dual Interface Payment Card Market

As stated in our extensive report; the Global Dual Interface Payment Card Market accounted for USD 23.1 Billion in the year 2021.

The worldwide Dual Interface Payment Card Market is expected to rise significantly, owing to its potential benefits such as better card longevity and fast transaction processing. A Dual Interface Payment Card has an integrated chip that enables cardholders to make both contactless and contact transactions. The contactless payment cards use advanced technology such as near-field communication and radio frequency identification technology in the payments module.

One of the primary reasons driving the Dual Interface Payment Card Market expansion is the increased demand for biometric-based dual interface cards in many banks. These cards provide potential benefits such as improved customer experience and risk management. Several leading market companies are investing in new solutions to fulfill the increased demand from banks to provide better services. This payment card has fingerprint sensors and can be used for contact and contactless transactions, allowing banks to improve their customer experiences.

The COVID-19 pandemic has shown a surge in demand for contactless payments to minimize physical touch and prevent the virus from spreading. Retailers around the globe are quickly adopting tap-to-go card payments, resulting in a surge in demand for the Dual Interface Payment Card Market. For instance, Spartan Nash, a grocery store corporation, announced that contact-free payment alternatives would be available at checkout in 155 of its company-operated supermarkets.

Asia Pacific is the largest region in the worldwide Dual Interface Payment Card Market, owing to solid expansion in the consumer electronics industry and rising demand for loyalty cards.Asia Pacific accounted to be the biggest market for the Dual Interface Payment Card Market during the forecast period. This market growth is boosted by solid expansion in the consumer electronics industry, rising demand for loyalty cards, and continuing regional projects.

Some of the key players in the Global Dual Interface Payment CardMarketinclude-American Banknote Corporation, Daktronics India Limited, Cardcom Technology, CardLogix Corporation, CPI Card Group, Eastcompeace Technology Co. Ltd, Giesecke & Devrient (G&D) GmbH, GOLDPAC Group, Hengbao Co. Ltd., IDEMIA, Infineon Technologies AG, Ingenico Group, Inteligensa Group, and others.