Smart Cards : Research and analysis highlights. Tarjetas Inteligentes :: Smart Cards

Smart Cards : Research and analysis highlights


Fecha Domingo, septiembre 26 @ 15:56:11
Tema Tarjetas Inteligentes :: Smart Cards

Spain is among the countries with the lowest fraud ratio in Western Europe. Spain is expected to complete its EMV-compliant migration by 2005 but the country has recently announced that the migration programme will be completed in 2008. It is estimated that only around one per cent of cards on issue in the country are currently EMV-compliant.

France pioneered the chip and PIN concept in 1992 when all CB cards were converted into smart cards. As a result, France witnessed a significant fall in the level of fraud on cards issued in France for domestic transactions. France has, reportedly, seen its fraud level reduced by more than 50 per cent since the introduction of smart cards.

Barclays first introduced Falcon Fraud Manager in 1997 and has recently renewed its contract for an additional five years. Barclays reported that its fraudulent activity was reduced by 30 per cent in the year 2003, a result that was mainly attributed to the implementation of Falcon Fraud Manager.
Consumers continue to grow ever more comfortable with making their payments by plastic. Over 2003, the number of cards in issue rose by 8 per cent while transaction volumes increased by 11.5 per cent. Plastic card transactions now account for a higher proportion of total retail sales than ever before.

Consolidation continues to dominate the credit card industry, with the need for scale and threat of regulation forcing small issuers out of the market. Northern Rock has been the latest casualty, while speculation mounts over potential bidders for online bank Egg. HSBC's acquisition of Household has made it the UK's fifth biggest card issuer.

Innovation has remained strong in the credit card market, with a number of issuers seeking to differentiate their product from the rest. The launch of Mint provided consumers the chance to choose a card with a distinctive shape, while Lloyds TSB's Createcard allows consumers to shape their own product offering.
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