Chinas smart card market steadily ranks first in the world

Statistics, Chinas 2012 to 2013 smart card market amount year-on-year growth of 20.17%, reaching a historical peak value, smart cards originated in Europe, around 2000 landed in the Chinese market, the development of China has occupied 33.58% of the global smart card market, the smart card market steadily ranked first in the world.

What are the reasons for the rapid growth of the smart card market?

Initially, smart cards were used in the communications industry, such as China Mobile cards, telecom cards, Tietong cards, etc. Few supermarkets, schools, hotels and small communities use smart cards due to their high cost, but with the rapid development of Chinas economy, many large supermarkets will use smart cards to make membership cards for easy management, security and to increase customer interest in holding cards. With the rapid development of society, smart cards are also used in all walks of life, such as: commerce, medical, insurance, transportation, energy, communications, security management, identification and other non-financial fields are widely used, the application in the financial field is also increasingly widespread, with far-reaching impact. 

The development of financial ic cards has laid a solid foundation for the development of smart cards

Magnetic stripe card theft is a frequent case in recent years, simply because the magnetic stripe card does not have any secrecy function, easy to be copied, so the magnetic stripe card is gradually eliminated from the financial market, however, ic card is integrated circuit card, also known as smart card, wisdom card, not easy to be copied, and security, so far, the major banks have gradually issued financial ic card, the next five years will be promoted nationwide, also for the smart card market has brought a large market