Published on : May 31, 2016
Long gone are the days when smart cards had limited applications. Today, smart cards that collect and retrieve personal information of people are being extensively used in the transport sector. The growing application of smart cards in the transport and ticketing sector proves its success. Now with advanced smart cards being introduced in the global market, ticketing operations have become simple.
Earlier, people had to take ticket tokens every day and rush to catch the right bus or train at the right platform. With the introduction of smart cards, this process is simplified for the commuters. The efforts taken by manufacturers of smart cards to advertise their products, the advancements in technology, the increasing number of people using travel smart cards, and the growing awareness among people are some of the factors leading to the growing sales of smart cards.
For instance, recently in Sydney, the new Opal card was introduced, which simplified the ticketing operations for the commuters and the authorities. The new Opal smart card replaces the bus, ferry, train, and light rail tickets in Sydney and beyond. A single ticketing system is used to simplify the complex ticketing tasks. Such smart cards help to simplify the travel for the commuters.
What is the future of smart cards for transport sector?
- The demand for reliable, safe, and secure payment transactions across the transport sector has led to the growing use of travel smart cards.
- The introduction of cost-saving schemes from payment brands such as MasterCard, Europay, and Visa is expected to propel the global smart cards market.
- The rising number of travelers using smart cards for their ticketing and payment transactions is also predicted to benefit the global smart cards market in the near future.
The demand for hybrid smart cards, contact-based smart cards, contactless smart cards, and duel-interface smart cards is expected to increase in the years to come. Going further, the increasing security concerns will motivate more commuters to buy travel smart cards, thus expected to boost the global smart cards market.
Apart from the transport sector, the use of smart cards is expected to increase in other industries such as retail and government.