Banking Smart Cards Market in APAC - A New Age of Payments

SINGAPORE, Nov. 7 /PRNewswire/ -- Frost & Sullivan's Automation & Electronics Practice in Asia (http://www.smartcards.frost.com/ ) will host an analyst briefing webinar on the banking smart cards market in Asia Pacific, on November 23, 2006 at 11:00 hrs (GMT+08:00hrs) Singapore time.

Smart cards are finding their use in many applications today. Of all these applications, the financial segment expects to contribute a large portion to the unit shipment of smart cards in many regions. The use of financial smart cards for the purpose of security is no longer the only business case. Convenience of small value payments has also encouraged the growth of smart cards.

The EMV mandate has been the most decisive factor in the migration of all magnetic-based banking cards to chip-based cards. Contactless payment technology has also become a driving force in the uptake of financial smart cards with the punch line being stressed on the ease of payments. All these factors coupled with the assurance of more safer and secure means of financial transactions have provided a good business case for the Asian market to take up smart cards for the banking segment.

This analyst briefing will provide an overview of Asia Pacific's financial smart cards market, with drivers and restraints within the market as well as its competitive structure. Other highlights of the briefing include the market forecast, competitive structure and a look at the future of smart cards in the banking sector. We will also provide an update of related and upcoming research and provide an opportunity for a live and interactive question and answer session with the analyst.

This briefing will benefit card manufacturers, system integrators and companies willing to enter these markets. By giving a market overview of this market, these same companies will be able to understand the requirements and the potential of this region.

Research Analyst, Smart Cards and Auto ID, Frost & Sullivan, Navin Rajendra says, "The smart card market for financial applications is at different stages around the world. The Asian market is experiencing a healthy CAGR of 34.3 percent. The fraud rate in this region has been the biggest driver. Many countries have already started experiencing the benefits of EMV compliant cards from the drastic reduction in fraud rates. In some countries the reduction in fraud rate has been as high as 90 percent."

He adds, "Banks are also looking at chip-based cards for the purpose of product differentiation from other banks. Countries that have not yet shifted to chip-based cards are planning on doing so immediately, for fear of fraudulent activities being shifted to their respective regions."

Join us as Navin shares some invaluable insights on this fast paced market. Those interested in registering for the interactive webinar should send an e-mail to Donna Jeremiah - Corporate Communications at djeremiah@frost.com with the following information: full name, company name, title, telephone number, e-mail address, city, state and country.

About Frost & Sullivan: Frost & Sullivan, a global growth consulting company has been partnering with clients to support the development of innovative strategies for more than 40 years The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com/ .

   Media Contact:

   Donna Jeremiah
   Corporate Communications - Asia Pacific
   P: +603 6204 5832
   F: +603 6201 7402
   E: djeremiah@frost.com

   Tori Foster
   Corporate Communications - North America
   P: 210.477.8448
   F: 210.348.1003
   E: tori.foster@frost.com

   Sharmin Jassal
   Corporate Communications - Australia
   P: +61.2.8247.8900
   E: sharmin.jassal@frost.com

   Surbhi Dedhia
   Corporate Communications - India
   P: +91.22.5001.3431
   E: sdedhia@frost.com