Use of Smart Cards Growing, Says Datamonitor Study

Global acceptance of smart cards, particularly the multipurpose card, will accelerate through the year 2000, according to a new study from global IT analyst firm Datamonitor (New York). The report,

Global Smart Card Opportunities, 1997-2002, reveals that by the year 2002, 3.85 million smart cards will have been distributed. The multipurpose smart card will see the most growth, the study predicts; this card, capable of carrying several functions at some time during its life, "will become especially popular with financial services and loyalty applications," according to Datamonitor consultant Innis McCarthay. Currently Europe is the largest smart card market in the world, but will see its share of consumption drop from 75% to 46.8% by 2002. The United States is expected to be the fastest growing market for smart cards, according to the report.