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E-Commerce
Explosion Begins with Smart Cards
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BOONTON, NJ. June 8, 1998:
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With the widespread acceptance of credit
cards, debit cards, and electronic money, cash is going the way of the
dinosaur, says a new market research report from Insight Research. And
smart card systems may prove to be the best method for secure, convenient
low-value transactions between businesses and their customers.
According to Insight's report, Beyond Payphones:
Vending, Low-Value Transactions and the Information Age 1998-2003,
telecom service providers have the opportunity to rejuvenate the long
stagnant payphone calling market with smart card technology. With its own
data processing capabilities, a smart card can store both customer profiles
and electronic money. This e-cash is added and subtracted directly from the
card--making transactions more secure and convenient for the vendor and the
customer. Plus, expanding smart card usage beyond payphones could result in
an e-cash system for all low-value transactions, including vending machines,
transit fares, or even Internet payments.
"Look at where payphones are located--in airports, at gas stations, in the
shopping malls--all places where the consumer has the opportunity to or
needs to make other low-value transactions," says Robert Rosenberg,
president of Insight. "We see payphones as a way of jump starting the
widespread use of multifunctional smart cards in the US," Rosenberg concludes.
According to Insight, global spending on smart cards will grow from $1.1
billion in 1998 to nearly $2.8 billion in 2002, with prepaid phone cards
representing about 35 percent of the market by the end of the forecast period.
Further insights into the smart card and payphone markets, including
five-year revenue forecasts segmented by application, vendor, and region,
are published in Beyond Payphones: Vending, Low-Value
Transactions and the Information Age 1998-2003.
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IP-Based
Applications Services Market 2002-2007
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Optical
Networks:
DWDM
and
SONET
2003-2008
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Private
Line Services
2003-2008
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Grid
Computing
2003-2008
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US
Hispanic Use of Telecom Services 2007-2002
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Insight
Research,
founded
in
1990,
is
a
highly
respected
source
for
telecommunications
market
research
and
strategic
analysis.
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| Contact
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Donna
Savino
at Insight Research
973-541-9600
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Telecom
Market
Research,
