BASINGSTOKE, England–(BUSINESS WIRE)–A new Juniper Research A study found that global payment card shipping revenue for technology companies will reach $11.7 billion in 2026, up from $9.7 billion in 2022. This 20% increase reflects new innovations emerging in the payment card sector, while the deployment of contactless cards is reaching its final stages.
The new research Payment Card Technologies: Segment Analysis, Vendor Strategies and Market Forecast 2022-2026, predicted the introduction of biometric cards, metal cards and CVV (Card Verification Value) dynamic cards as major disruptive trends over the next 5 years. These new types of cards all have the same goal: to make the cards suitable for the new digital payment ecosystem. Research has found that these new types of cards will help evolve the payment experience in the digital age, increasing security and convenience; make card use more attractive in the face of increasing mobile-centric payment innovations.
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Metal Cards Generate Revenue
The research found that metal cards will account for more than $4.4 billion in hardware revenue for technology vendors globally in 2026, up from $1.2 billion in 2022. The research identified the top appearance of range of metal cards as a very attractive differentiator; driver of their future growth.
Research co-author Damla Sat explained: “Banks and card issuers need to differentiate in order to remain relevant in the era of digital payments – adding value to their services using new card types can add significant value and reduce churn with existing relationships.
Biometric cards have great potential
The research also revealed that the use of biometric cards, which feature in-display fingerprint sensors, will increase dramatically, with shipments expected to increase by nearly 850% over the next 5 years to reach 173 million in 2026 globally. . Biometric cards will allow card payments to better compete with mobile payments, including Apple Pay and Google Pay, eventually allowing payment cards to have no transaction limits. The report acknowledges that this development is key to removing barriers to the growth of contactless payments.
Payment Card Technology Report: https://www.juniperresearch.com/researchstore/fintech-payments/payment-card-technologies-market-research-report
White paper download: https://www.juniperresearch.com/whitepapers/premium-tap-scan-the-future-of-payment-cards
Juniper Research provides research and analytical services to the global high-tech communications industry, providing consulting, analyst reports and industry commentary.