Dual Interface Payment Card Market is anticipated to grow at a CAGR of 16.9% during the forecast period 2022-2032 | DATANG, Paragon Group Limited, CPI Card Group Inc., Watchdata Co., Ltd

The global Dual Interface Payment Card Market was valued at USD 6.8 Billion in 2022 and it is anticipated to grow up to USD 32.3 Billion by 2032, at a CAGR of 16.9% during the forecast period.

A dual interface payment card is a credit or debit card that can be used in both contact and contactless payment systems. The card contains a chip that can be read by a card reader when the card is inserted into a slot, as well as a radio frequency (RFID) antenna that can be read by a contactless reader when the card is held near the reader. Dual interface cards offer the convenience of contactless payments for small transactions, such as retail purchases, while still allowing the card to be used for larger transactions, such as at an ATM, where a card reader is required. The use of dual interface cards is growing as more retailers adopt contactless payment systems.

Request Sample Report : https://www.globalinsightservices.com/request-sample/GIS24373

Market Trends and Drivers

The increasing demand for contactless payments by customers as well as small businesses is expected to drive market growth. Moreover, the increasing partnerships to launch contactless credit cards specifically designed for small businesses is expected to create growth opportunity for the growth of the dual interface payment cards market. For instance, in June 2022, Verizon announced its partnership with MasterCard and FNBO. This partnership was aimed at introducing small-scale business credit cards. The small business enterprises with these newly launched cards would be gaining the Verizon Business Dollars against gadgets or apparel for their company. Thereby enabling the scope of expansion for dual interface payment cards in the SMEs segment over the forecast period.

Market Restraints and Challenges

The increasing concern for payment security due to the contactless payment method in the dual interface card is one of the challenges hindering the growth of the industry. At the same time, the growing need for hardware upgrades at the point-of-sale terminals to support such payment technology is expected to hinder the growth of the market. Furthermore, the high cost incurred for manufacturing the dual interface card is another factor expected to restrain the growth. Though such challenges can be overcome by advancing in technologies and making the manufacturing process efficient.

Read Full Research Report : https://www.globalinsightservices.com/reports/dual-interface-payment-card-market

Global Dual Interface Payment Card Market Segmentation
By Type

• Plastic
• Metal

By End-user

• Retail
• Transportation
• Healthcare
• Hospitality
• Others

Major Players in the Global Dual Interface Payment Card Market

The key players in the market are Thales Group, IDEMIA, VALID, Giesecke+Devrient GmbH, Eastcompeace Technology Co., Ltd., DATANG, Paragon Group Limited, CPI Card Group Inc., Watchdata Co., Ltd., and Wuhan Tianyu. among others.

Buy Now : https://www.globalinsightservices.com/checkout/single_user/GIS24373

Reasons to buy Dual Interface Payment Card Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

New Report Published by Global Insight Services : https://www.globalinsightservices.com/reports/hydrogen-projects-database/

Contact Us:

Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

This release was published on openPR.