The Analysis About Business Opportunity In Payment Field

Published:2010/9/29 0:49:00 Author:Li xiao na From:SeekIC

The application of the financial service is one of the driving forces of the smart card industry all over the world. The increasing of the card market drives the shipment of smart card, especially the card market in Asia. The popularization of the EMV makes it move to Asia quickly. The growth rate had been more than seventy percent in Asia-pacific region in the last two years. There are so many reasons to drive the EMV move to this area, such as to prevent cheating and the requirement from government. The competition between different banks is fierce in Taiwan and Australia, which also promotes the multifunctional card entering these areas.

The demand for the contactless function is increasing in the entire Asia-Pacific region, especially in Malaysian and Korean market. The contactless technique is always used for the transportation and payment. Although the application of access control and automatic tickets-selling system are holding a leading post on the Smart card market, the manufacturers are trying to develop the contactless technique for the new usage. These new cards include the ID card and travel documents.

In Japan, seventy three percent of the cell phones have utilized the contactless chip. The supplier Do Co Mo has released a cell phone which has the function of electric wallet. Its demand reaches thirty million, and more than one million of the restaurants accept this method of payment. There are so many people use the cell phone to pay in Asia-Pacific region. It is predicated that the users will increase to fifty percent in the year of 2010, which increase from 41.8 million to 62.8 million.

The service providers have played an important role in the development of payment market. They provide the payment function and create the healthy eco-system and infrastructure to meet the increasing demand. Some data indicates that the short message service is the main technique to pay, but the financial institutions should not neglect the near field communication technique which may become the substitution in the future. The related integrated circuit is OC250.

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