In 2013, China held the No.1 global market for smart cards

In 2013, China held the No.1 global market for smart cards
      In 2013, China's smart card market remained the world's number one. Data shows that from 2012 to 2013, China's smart card market value grew by 20.17% year-on-year, reaching a historic peak. Smart cards originated in Europe and entered the Chinese market around 2000. Today, China holds a 33.58% share of the global smart card market, firmly holding the top spot globally.

What are the reasons for the rapid growth of the smart card market?
      Initially, smart cards were used in the telecommunications industry, such as China Mobile cards, Telecom cards, Tietong cards, etc. Due to their high cost, supermarkets, schools, hotels, and residential communities rarely used smart cards. With the rapid development of China's economy, many large supermarkets use smart cards to make membership cards, making management easier, safer, and increasing customer interest in card ownership. Similarly, community access cards are also designed for user safety. With rapid social development, smart cards have been used across various industries, such as commerce, healthcare, insurance, transportation, energy, and communications

In addition to widespread application in non-financial fields such as information and security management, identity recognition, and other non-financial fields, its use in the financial sector is also becoming increasingly widespread, with a profound impact.

The development of financial IC cards has laid a solid foundation for the advancement of smart cards
Magnetic stripe card fraud incidents have occurred frequently in recent years. Because magnetic stripe cards lack any confidentiality function and are easily copied, magnetic stripe cards have gradually been phased out of the financial market. However, IC cards are integrated circuit cards, also known as smart cards or smart cards, and are not easily copied and secure. So far, major banks have gradually started issuing financial IC cards, which will be promoted nationwide in the next five years, bringing a large market to the smart card market.