Smart cards are used for a variety of purposes from storing a patient’s medical records and electronic payments to security identification. The newer generation of credit card-sized smart cards are activated by simply waving the card at the electronic reader.
Billions of smart cards have already been shipped and, as eSecurity Planet notes, new technology promises to expand the market even further, particularly as companies look to leverage the security features smart cards offer.
Smart cards for security and transactional applications are already a huge business, but the latest technology advances promise to make the credit card-sized products even more ubiquitous.
ABI Research estimates a whopping 5.2 billion smart cards shipped in 2009, with technology advances and customer demand set to grow that number in years to come. Smart card applications include SIM cards (for mobile devices), payment and banking, government ID, and transportation among others.