Smart Cards Gaining Impetus in India

The Indian payment card market is getting smarter with the use of smart card technology, says RNCOS new research report.

Noida, India (prHWY.com) June 8, 2012 - In India, the concept of chip-based payment cards is fairly new. Used by only a small number of banks in the country, these cards are more popular in the Europe and North Asia. Presently, a number of Indian banks are planning to update their cards to comprise the smart card technology. According to a new research report by RNCOS, the use of smart cards in India is being promoted as the future of secure payment transactions. The retail e-payments market, which is likely to achieve a robust growth in the coming years, will also fuel growth in the Indian smart card payment market.

The report, "Indian Payment Card Market Forecast to 2012", says that the Indian payment card industry offers great opportunities to existing as well as new players. Payment through cards enhances economic efficiencies, and this is the main reason due to which the industry has grabbed the attention of middle class households and the Government. This growth, in turn, has opened enormous opportunities for card issuers, suppliers, and manufacturers.

The report provides an extensive research and rational analysis on the Indian payment card market. It covers current market trends, industrial developments, and competitive landscape which will help clients understand the current market scenario, and the direction in which it is likely to proceed in the coming years. A brief overview of the activities of key market players, including ICICI Bank, HDFC Bank, Citibank NA, State Bank of India, and Punjab National Bank, has also been included in the comprehensive study. Potential growth areas evaluated in the research work will help the clients gain an insight into the industry, and align their business strategies as per the changing market dynamics.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM006.htm

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About RNCOS

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.

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Tag Words: indian payment card

Categories: Banking

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