Global Smart Card Market Continues To Grow

The growth of the mobile commerce (mCommerce) and eCommerce industries is fueling the global smart card industry, which is expected to grow at a compound annual growth rate (CAGR) of 8 percent through 2020, according to a new research report. “The growth of mCommerce and eCommerce have accelerated the demand for secure payment options and improved the demand for smart cards,” according to the report by Technavio. “Loyalty cards offered by retail stores contain the information of customers and points earned by them through purchases. All such factors are expected to drive the market during the forecast period.”