LAMEA Biometric Payment Cards Market Size, Share & Industry Trends Analysis Report By Card Type (Credit Cards and Debit Cards), By End Use (Retail, Hospitality, Transportation, Healthcare, Government), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Biometric Payment Cards Market would witness market growth of 75.3% CAGR during the forecast period (2022-2028).
Businesses have recognized the value of biometric payment cards, prompting numerous banks & financial institutions to partner with biometric payment providers to give these smart cards to their clients. For example, Zwipe, a biometric payment service provider, announced that the National Bank of Iraq has chosen Zwipe to trial biometric cards via the Zwipe pay platform. This will be one of the first experiments for contactless payment cards of the next era in Iraq. Such initiatives are assisting in the expansion of the biometric payment card market.
Recent analyses of the UAE banking sector's assets, number of employees, interest rates paid, and remuneration show that it is growing steadily. Also, the banking and financial institutions are heavily investing in contactless and biometric payment technologies, in order to make biometric payment experience easy for users. The UAE banking sector's present objectives are to continue expansion, attract more internationally known institutions while also improving the reputation of domestic banks, ensure financial system stability, and establish powerful risk departments. The UAE's consistent banking industry expansion contributes to the country's international and regional reputation.
The UAE's financial sector is getting increasingly international these days. Dubai serves as the country's financial and banking hub. A number of foreign and national banks have offices in Dubai, in the city's Bur Dubai neighbourhood. The banking industry in the United Arab Emirates is highly focused on the international marketplace, with all services available in both Arabic and English.
The Brazil market dominated the LAMEA Biometric Payment Cards Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $41.2 Million by 2028. The Argentina market is anticipated to grow at a CAGR of 76.3% during (2022 - 2028). Additionally, The UAE market would showcase a CAGR of 74.8% during (2022 - 2028).
Based on Card Type, the market is segmented into Credit Cards and Debit Cards. Based on End Use, the market is segmented into Retail, Hospitality, Transportation, Healthcare, Government, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Infineon Technologies AG, NXP Semiconductors N.V., Thales Group S.A., Visa, Inc., Mastercard, Inc., IDEX Biometrics ASA, Zwipe, Bio-idz, and Goldpac Group.
Scope of the Study
Market Segments Covered in the Report:
By Card Type
- Credit Cards
- Debit Cards
By End Use
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Infineon Technologies AG
- NXP Semiconductors N.V.
- Thales Group S.A.
- Visa, Inc.
- Mastercard, Inc.
- IDEX Biometrics ASA
- Goldpac Group
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