Industry Information
Industry luminaries are forecasting the North American Smart Card market to reach $3 Trillion by 2008 (Smart Card Alliance, 2001). The convergence of traditional retailing with global e-commerce and m-commerce, combined with the demand for fraud-resistant financial transactions and EMV (Europay/MasterCard and Visa) deadlines, is driving the migration to smart chip-based payments. Nearly 2 billion magnetic stripe payment cards in use today have converted to smart cards. Smart Card markets are emerging globally and Phoenix Technology, is in the middle of this wave.
