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Dual Interface Payment Card Market to Reach $37.9 Billion by 2032 at 17.4% CAGR

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The global dual interface payment card industry is driven by the increase in demand for contactless payments, the rise in adoption of internet banking, and the growth in adoption of various strategies by government authorities and businesses.

PORTLAND, Ore., July 17, 2023 /PRNewswire/ — Allied Market Research published a report, titled,Dual Interface Payment Card Market by Type (Plastic and Metal) and End User (Retail & E-commerce, Transportation Healthcare, Hospitality & Tourism, and Others): Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the dual interface payment card industry generated $7.8 billion in 2022, and is anticipated to generate $37.9 billion by 2032, witnessing a CAGR of 17.4% from 2023 to 2032.

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Prime Determinants of Growth:

The global dual interface payment card market is driven by the increase in demand for contactless payments, the rise in adoption of internet banking, and the growth in adoption of various strategies by government authorities and businesses. However, high initial costs and expenses and a lack of consumer knowledge and awareness restrict market growth. Furthermore, the surge in the integration of advanced technologies offers a strong opportunity for the dual interface payment card industry. In addition, the growing utilization of NFC infrastructure is also expected to provide lucrative opportunities for market growth during the forecast period.

Report Coverage & Details:

Report Coverage

Details

Forecast Period

2023–2032

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Base Year

2022

Market Size in 2022

$7.8 Billion

Market Size in 2032

$37.9 Billion

CAGR

17.4 %

No. of Pages in Report

214

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Segments covered

Type, End User, and Region

Drivers 

The increase in demand for contactless payments 

Rise in adoption of internet banking  

Growth in adoption of various strategies by government authorities and businesses

Opportunities

Surge in the integration of advanced technologies   

The growing utilization of NFC infrastructure

Restraints

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High initial cost and expenses consideration   

Lack of consumer knowledge and awareness  

 

COVID-19 Scenario: 

  • The COVID-19 pandemic had a significant impact on the global dual interface payment card industry, as the pandemic forced individuals or different organizations to adopt the work-from-home mode. It further caused a global decline in demand for traditional bank operations due to lockdown measures and transport restrictions imposed by national authorities.
  • In addition, the industry is shifting towards remote work and virtual events. Dual interface payment cards play a crucial role in enabling online payments, allowing individuals to discover online transaction options with the contactless option. Moreover, dual interface payment cards can help consumers with the digital transformation of banking operations. This has increased the growth of the market.

The plastic segment to maintain its leadership status throughout the forecast period-

Based on type, the plastic segment held the highest market share in 2022, accounting for nearly three-fourths of the global dual interface payment card market revenue, and is estimated to maintain its leadership status throughout the forecast period. Several businesses started to provide eco-friendly plastic cards produced from recycled plastic, from BFSI to manufacturing and healthcare. However, the metal segment would display the highest CAGR of 20.7% from 2023 to 2032. Metal-based cards play a vital role in the dual interface payment card market, and due to their endurance compared to plastic-based cards, metal cards are becoming more popular.

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The retail segment to maintain its lead position during the forecast period-

Based on end user, the retail segment accounted for the largest share in 2022, contributing to more than two-fifths of the global dual interface payment card market revenue, and is expected to maintain its lead position during the forecast period. Outdoor dual interface payment card solutions offer a wide range of benefits for the retail industry, including a contactless payment option. These solutions provide detailed and up-to-date payment solutions that help users in the retail sector. However, the hospitality and tourism segment would portray the fastest CAGR of 23.3% from 2023 to 2032. The increased international travel and growing demand for mobile payment options in these sectors are expected to contribute to market growth.

North America region to maintain its dominance by 2032-

Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global dual interface payment card market revenue. due to the increase in investment in advanced technologies such as cloud-based services, AI, ML, and IoT to improve banking and finance businesses and the customer experience. Thus, it is anticipated to propel the growth of the market. On the other hand, the Asia-Pacific region is expected to maintain its dominance throughout the forecast period. The same region is expected to witness the fastest CAGR of 19.1% from 2023 to 2032, owing to an increase in penetration of digitalization and higher adoption of advanced technology.

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Leading Market Players: –

  • Thales Group
  • CPI Card Group Inc.
  • Eastcompeace Technology Co., Ltd.
  • Giesecke+Devrient GmbH
  • Goldpac
  • IDEMIA
  • Infineon Technologies AG
  • Paragon Group Limite
  • Watchdata Co., Ltd.
  • Wuhan Tianyu Information Industry Co., Ltd.

The report provides a detailed analysis of these key players in the global dual interface payment card market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant positions in different countries. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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FXGiants Online Trading Platform Launches Bonus Initiative to Reward Traders

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HAMILTON, Bermuda, Dec. 19, 2024 /PRNewswire/ — FXGiants has recently launched a series of exciting bonuses. Participants on the FXGiants online trading platform can now amplify their trading potential with a broad spectrum of bonuses that are tailored to fit different trading needs. These bonuses not only add extra value but also act as a safety net for traders to explore the financial markets without risking too much.

“Our goal with these deposit bonus options is to empower traders of all levels,” said Christopher Oates, the spokesperson for FXGiants. “Under this scheme, we have diverse categories, including Bonus Maximiser, Booster Bonus, and the Bonus Advantage. These bonuses are designed to provide flexibility to clients as they trade on the FXGiants online trading platform.”

Exploring the FXGiants Bonus Options

The bonus options at FXGiants come with versatile advantages. The Bonus Maximiser provides a full 100% boost on all deposits without limit, whereas the Booster Bonus offers a 40% bonus on all deposits up to $4,000 for traders who want to moderately enhance their capital. On the other hand, the Bonus Advantage provides a 60% bonus on deposits up to $5,000, giving traders a better handle on risk. These bonuses enhance the trading experience on the FXGiants online trading platform.

“At FXGiants, we are committed to a trading environment that meets the evolving needs of our clients,” Oates added. “Our online trading platform is a robust ecosystem designed to support traders with advanced execution, extensive market insights, and continuous improvements. As we move forward, we will keep expanding our offerings to ensure that traders have access to the best resources and support.”

About FXGiants

FXGiants stands out as an international broker providing access to over 300 financial instruments across 6 asset classes. Traders can operate through the popular MetaTrader 4 platform, and benefit from exceptional trading conditions such as competitive spreads, flexible leverage, and fast execution. With deposit boosters, partnership programs, an educational blog, and account types tailored to both novice and experienced traders, FXGiants remains dedicated to delivering a one-stop trading solution.

Terms & Conditions apply. Bonus cannot be withdrawn.

All trading involves risk. It is possible to lose all your capital.

FXGiants is a trade name of Notesco Int Limited; a company incorporated in Anguilla with registration number A000001800 and registered address The Valley, AI2640, Cosely Drive, 1338, AI.

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Website: https://www.fxgiants.com/

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CKGSB Successfully Hosts 2024 MBA Professor Training Program for Western China

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BEIJING, Dec. 23, 2024 /PRNewswire/ — Cheung Kong Graduate School of Business (CKGSB) successfully hosted the Western China MBA Professor Training Program in collaboration with the China National MBA Education Supervisory Committee and Shantou University School of Business on December 17 and 18, 2024. 58 professors from over 40 universities in China nationwide, mostly western China, attended this training.

Since 2007, CKGSB has been aspiring to address the pressing disparities in management education between eastern and western China with its MBA professor training program. As of 2024, the program has trained 372 professors from 155 universities across 22 provinces, 4 autonomous regions, 3 direct-administered municipality in China, indirectly impacting tens of thousands of MBA students.

This year, the training focused on social innovation and business for good, a topic many participating professors found lacking in their day-to-day teaching and research. Professor ZHU Rui (Juliet), CKGSB Professor of Marketing and Director of the ESG and Social Innovation Center, led the training. She introduced how CKGSB has been innovating with the integration of business for good in management education, and how our relevant practice-based course has already helped 2,800+ students integrate ESG into their businesses. Professor Zhu also hosted an interactive workshop with the training’s participants on how they may build this idea into their teaching.

Participants shared in their post-program survey that Professor Zhu’s teaching and her ESG Assessment map gave them a new perspective on how to balance profits and social responsibilities. Many also felt inspired on how to bridge the gap between research and practice.  

Recognized in CKGSB’s 2022 and 2024 ESG and Social Innovation Reports and honored as a finalist for the 2021 China Social Impact Award by the United Nations and British Chamber of Commerce, this program exemplifies CKGSB’s impact in this critical area. Through partnerships with the government, NGOs, and business schools, this initiative has made significant progress in promoting quality education and reducing inequalities.  

For more information on CKGSB’s ESG and social innovation efforts, visit our ESG and social innovation website.

About CKGSB

Established in Beijing in November 2002, CKGSB is China’s first privately-funded and research-driven business school. The school aims to cultivate transformative business leaders with a global vision, sense of social responsibility, innovative mindset, and ability to lead with empathy and compassion (https://english.ckgsb.edu.cn).

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Wirex Adds VEUR and VCHF Stablecoins to its Platform for Seamless Spending

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VADUZ, Liechtenstein, Dec. 23, 2024 /PRNewswire/ — Wirex, a global leader in bridging traditional and digital finance, has announced the addition of VNX Euro (VEUR) and VNX Swiss Franc (VCHF) to its platform. With this integration, Wirex users can now spend VEUR and VCHF directly through their Wirex cards, streamlining everyday transactions and enhancing convenience.

Wirex cards allow users to use VEUR and VCHF in various ways. Whether users receive payments in VEUR and/or VCHF, use them for remittances (including cross-border transactions), or sell digital assets for stablecoins instead of fiat, Wirex provides the simplest solution for spending in real life. Users can instantly convert their stablecoins into fiat currency and send them directly to their bank accounts, catering to those who prefer traditional banking options.

Pavel Matveev, Co-founder of Wirex, said: “We’re excited to welcome VNX Euro (VEUR) and VNX Swiss Franc (VCHF) to Wirex. This addition allows our users to effortlessly spend stablecoins in real life, whether for daily purchases, remittances, or managing their digital assets. At Wirex, our goal is to make digital currencies as convenient and versatile as traditional money, and VEUR and VCHF are another step toward achieving that vision.”

Future Features

Additional features will be rolled out later after the launch, complementing the immediate benefits of VEUR and VCHF. These include loans and high-yield X-Accounts, both of which are growing in popularity among Wirex users. Loans offer a smart and tax-efficient way to access liquidity without selling underlying digital assets. Users can leverage their BTC, ETH, SOL, and other digital assets, as collateral for loans in stablecoins, allowing them to benefit from potential appreciation while accessing funds without triggering taxable events.

X-Accounts provide an opportunity for users to earn industry-leading yields of up to 15% APY on their stablecoin balances, enhancing the overall value proposition of holding VEUR and VCHF within the Wirex ecosystem.

Upcoming Advanced Opportunities

VEUR and VCHF have the potential to become preferred options in Wirex’s advanced trading products, such as Wirex DUO and Wirex Multiply. Notably, Euro-backed stablecoins have already demonstrated significantly higher usage among Wirex users than larger USD alternatives, highlighting strong demand for Euro-denominated trading options.

As Wirex explores adding VEUR and VCHF to these products, it aims to further strengthen its position as a leader in digital finance by offering innovative solutions that bridge the gap between traditional finance and digital assets.

Disclaimer: The term “stablecoin” is used herein in relation to VEUR and VCHF for marketing purposes. The reader however shall understand that VEUR and VCHF are fiat-referenced tokens which are described in more detail in the VNX Gold based Fiat Referenced Tokens (FRT) Terms and Conditions which are available for review at www.vnx.li 

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About VEUR and VCHF

Both VEUR and VCHF are multichain tokens referencing the Euro and Swiss Franc, developed by VNX, generated by a licensed token generator under the Blockchain Act in Liechtenstein. VEUR and VCHF are supported by the reserves ensuring 1:1 parity and represent a reliable digital asset in the crypto world. These tokens combine the stability of fiat currencies with the convenience of crypto, enabling quick, low-cost, and 24/7 accessible cross-border payments while opening new opportunities in DeFi.

About Wirex

Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management. Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.

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