LAMEA Dual Interface Payment Card Market Size, Share & Industry Trends Analysis Report By Type (Plastic and Metal), By End Use (Retail, Transportation, Healthcare, Hospitality, and Others), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Dual Interface Payment Card Market would witness market growth of 19.5% CAGR during the forecast period (2022-2028).
There is a growing demand in the banking industry for dual interface payment cards that include biometric sensors integrated for payment verification. In order to provide their consumers with great protection and stability when processing payments, market participants are also collaborating to manufacture and introduce these biometric payment cards. For example, the Swedish banking company Rocker collaborated with IDEMIA and IDEX in February 2022. The goal of this partnership was to launch Rocker Touch, a credit card that uses biometrics.
Dual Interface IC Cards are becoming more and more common, due to the developing semiconductor industry and emphasis on innovation. The best instances of innovation with regard to such IC cards are contactless cards with incorporated Wi-Fi modules. Additionally, the increased emphasis on digital transactions, backed by a variety of promotions and gifts, has generated a lot of potential prospects for the Dual Interface IC Card Market during the course of the forecast period. Along with that, there is a rising automation and technological developments in the healthcare sector, which would motivate key companies to invest in the improvements of dual interface payment cards.
Exporters in the region must present their clients with enticing sales conditions backed by suitable payment options if they hope to compete in the current world market and outsell overseas rivals. Since getting paid in whole and on time is the ultimate goal of any export sale, a suitable payment method must be carefully chosen in order to reduce the payment risk and satisfy the buyer's requirements. The prevalence of dual interface payment card is significantly increasing during the forecast period.
The Brazil market dominated the LAMEA Dual Interface Payment Card Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $384.2 million by 2028. The Argentina market is experiencing a CAGR of 20.2% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 19.2% during (2022 - 2028).
Based on Type, the market is segmented into Plastic and Metal. Based on End Use, the market is segmented into Retail, Transportation, Healthcare, Hospitality, 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 Thales Group S.A., IDEMIA SAS (Advent International, Inc.), CPI Card Group (Parallel49 Equity), Giesecke & Devrient GmbH, Watchdata Co., Ltd., Eastcompeace Technology Co., Ltd. (Potevio Group), Paragon Group Limited, Valid S.A., and Wuhan Tianyu Information Industry Co., Ltd.
Scope of the Study
Market Segments Covered in the Report:
By End Use
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Thales Group S.A.
- IDEMIA SAS (Advent International, Inc.)
- CPI Card Group (Parallel49 Equity)
- Giesecke & Devrient GmbH
- Watchdata Co., Ltd.
- Eastcompeace Technology Co., Ltd. (Potevio Group)
- Paragon Group Limited
- Valid S.A.
- Wuhan Tianyu Information Industry Co., Ltd.
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