China to ship over 1 billion smart payment cards by 2016

摘要

A new report launched by IMS Research recently has predicted that the number of payment and banking smart cards shipped in China will leap from 17 million in 2010 to more than one billion by 2016. IMS Research Analyst Don Tait, said, the People's Bank of China's announcement in March to convert the country's debit and credit payment cards to smart cards is the key to driving growth. By mandate, all financial institutions in China must be ready to issue financial smart cards by January 1,2013.