Continued demand for increased security and convenience is fuelling growth according to Smart Payment Association (SPA)

Cardist – Turkey, 12th May 2010: Demand for added security and more intelligent ’ways-to-pay’ are on the up, according to Smart Payment Association (SPA) in its annual review of the payment smart cards market.

According to the figures, the smart payment sector remained robust in 2009, showing steady growth throughout the year. Expansion is expected to continue at pace in 2010.

The Americas proved to be one of the most significant growth markets for Payment Chip Cards in 2009, with shipments growing 36 per cent. Asia Pacific returned an 18 per cent growth rate, while cards shipped into Europe & CISMEA grew by 14.5 per cent, despite the mature marketplace in Western Europe.

In total, more than 675 million smart payment cards were shipped in 2009 – up 16 per cent year on year from 2008. This figure is set to increase in 2010 as increasing numbers of countries migrate to the EMV payment standard.  This figure confirms the position of SPA as the reference organisation for the Smart Payment Industry as it represents 86% of the total available market**.

Global enthusiasm for payment innovation – enhancing security and convenience - was clear during 2009 with contactless*** technology gaining ground as dual interface card shipments reached mass market – showing growth levels of 150 per cent.

In line with continued year on year growth, Dynamic Data Authentication (DDA) technology also continued to gain market share, with number of cards shipped increasing by 34 per cent. This highlights the continued commitment of card issuers, retailers and all other members of the payments value chain to minimize card fraud.  DDA adoption and its business case is discussed in more depth in the whitepaper published by SPA available for download at: www.smartpaymentassociation.com

According to Christoph Siegelin, President of Smart Payment Association (SPA):  “The growth of chip-based payment in these tough operating times is incredibly encouraging. There is clear demand for innovative, secure and convenient payment methods. Today’s 2009 figures show the industry is in good shape to take full advantage of the opportunities.”