Delhi, Delhi India (PressExposure) April 11, 2007 -- Industry leaders will assemble in Mexico City for a conference on "Smart Cards for Government and Payment". The conference to be held during 8-9 May 2007, at the Hotel Presidente InterContinental of Mexico City, will help the leaders learn about the ways to take advantage of the rapid growth in smart card technology, they will also get to know about the recent developments in this industry. The conference will be co hosted by GlobalPlatform, and Smart Card Alliance, both of which are non profit, multi industry firms.
From making contact less payment to govt. issued healthcare cards to using bank cards, smart cards have become a catchphrase for the folks of Latin America and Mexico City.
Presently, 30% of the total bank cards used by people living in Mexico City are smart cards. However the goal is to attain 100% migration by the year 2008. Brazil is also making swift move in this sector, the state has almost 98% payment terminals accepting smart card. The fraud rates have reportedly dropped by above 80% there. Industry observers estimate that Latin American countries had spent more than US$ 200 Million on card technologies during the year 2006, which was 70% up against previous year (2005).
"The rapid migration of payment cards in Mexico to smart card technology creates an opportunity to expand services and reduce fraud; plus, there are new advances in contactless and mobile payments", Randy Vanderhoof, Smart Card Allianceâs executive director, said in a statement that SecureIDNews published on 13 March 2007.
"We think the time is right for a conference to discuss how financial institutions, merchants and industry suppliers can work together to realize the potential of this exciting technology", added Vanderhoof.
As per the RNCOS report âGlobal Smart Card Industry - Future Outlook (2007)â, the smart card markets of Asia and Latin America have potential to grow much beyond the present rate, however the high initial costs are going to be major constraint for growth in these markets.
This research report on âGlobal Smart Card Industry - Future Outlook (2007)â provides extensive research and objective analysis of the Global CCTV Market. It also addresses some interesting issues for todayâs global business environment. Issues covered in this report include: trends in global smart card market with respect to market value, shipments, and various application sectors, such as Banking, Telecom etc, potential of smart cards if they are used with Biometrics Technology and so on.
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