As 2006 came to a close, smart cards in the consumer card payments market had reached near full penetration in western European countries such as France and the United Kingdom. What was once a cutting edge technology is now a standard in the wallets of many Europeans.
In the United States, this market has struggled to gain a foothold. But, smart cards may now be getting a second chance in the form of contactless technology. The fast-paced American lifestyle continues to put pressure on retailers to serve customers in an ever-more efficient manner. At the same time, card brands such as MasterCard and Visa, are pushing for a bigger slice of the small-tickets payments pie traditionally reserved for cash. The time is finally right for large-scale penetration of smart cards in the payments market.
According to the new Packaged Facts report, Smart Cards in the U.S.: Contactless Payment Cards, roughly 27 million contactless payment cards were in circulation in the United States in 2006. If circumstances permit, that number could top 100 million by 2011. What’s more, increased penetration of contactless payments is expected grow transaction volumes and even managed balances for issuers.
This targeted report provides in-depth analysis of the small, but potentially large market for contactless payment cards in the United States. For perspective, it includes overviews of the overall smart card market worldwide and in the Untied States and the worldwide and U.S. payments markets. Also included are trends affecting the payments and contactless payments markets and analysis of consumer attitudes towards payment cards derived from the Annual Consumer Survey conducted by Simmons Market Bureau. To complete the report, an in-depth analysis of the potential market including forecasts of number of cards and increases in transaction and purchase volumes through 2011 is provided.
The information in Smart Cards in the U.S.: Contactless Payment Cardsis based on both primary and secondary research. Primary research involved extensive interviews with senior marketing, public relations and industry executives within the banking, retail and credit card markets and consultants to the industry. Secondary research entailed data-gathering from relevant trade, business, and government sources, including company literature, annual reports and 10(k) filings, white papers, and data from databases such as CardData and CardLine. Consumer data was obtained from Simmons Market Research Bureau’s Fall 2006 National Consumer Study. Media spending data was obtained from TNS Media Intelligence.
What You’ll Get in this Report Smart Cards in the U.S.: Contactless Payment Cardsmakes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that Smart Cards in the U.S.: Contactless Payment Cards. offers.
Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.
How You Will Benefit from this Report
If your company is already doing business in the smart card and contactless market, or is considering making the leap, you will find this report invaluable, as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for smart cards and contactless payments, as well as projected markets and trends through 2011.
This report will help:
Marketing Managers identify market opportunities and develop targeted promotion plans for smart cards and contactless payments.
Research and development professionals stay on top of competitor initiatives and explore demand for smart cards and contactless payments
Advertising agencies working with clients in the banking and retail industries understand the product buyer to develop messages and images that compel consumers to use smart cards and contactless payment options.
Business development executives understand the dynamics of the market and identify possible partnerships.
Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.