Banking and Financial Smart Cards Market Report 2026

The banking and financial smart cards market size has grown rapidly in recent years. It will grow from $15.29 billion in 2025 to $17.13 billion in 2026 at a compound annual growth rate (CAGR) of 12%. The growth in the historic period can be attributed to transition from magnetic stripe to chip-based cards, rising global card payment penetration, increasing fraud prevention requirements, expansion of banking services in emerging economies, regulatory mandates for secure payment authentication.

The banking and financial smart cards market size is expected to see rapid growth in the next few years. It will grow to $26.75 billion in 2030 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to increasing adoption of biometric authentication, rising integration with digital wallets, growing demand for secure cross-border transactions, expansion of cashless economies, increasing focus on sustainable card materials. Major trends in the forecast period include increasing adoption of contactless payment cards, rising deployment of biometric smart cards, growing use of dual-interface cards for cross-border payments, expansion of emv chip migration programs, enhanced focus on card-level data encryption.

The growing adoption of contactless payment solutions is driving the expansion of the banking and financial smart cards market. Contactless payments allow users to complete transactions quickly and securely by simply tapping a card equipped with near field communication (NFC) or radio frequency identification (RFID) technology, eliminating the need for physical contact. This method is gaining popularity as consumers increasingly prioritize speed, convenience, and hygiene during everyday transactions. Banking and financial smart cards support this trend through secure embedded chips and NFC technology, enabling fast, tap-and-go payments. For example, in January 2024, the European Central Bank reported a 24.3% year-over-year increase in contactless card payments, reaching 20.9 billion transactions in 2023. As a result, the surge in contactless payment adoption is fueling growth in the smart card market.

Major companies operating in the banking and financial smart cards market are concentrating on developing innovative solutions, such as accessible payment cards with Braille printing technology, to address the growing demand for inclusive banking, compliance with accessibility regulations, enhanced customer experience for visually impaired users, and wider social responsibility initiatives by card issuers. An accessible payment card with Braille printing is a physical payment card in which essential details, such as the card number, expiry date, and CVV, are embossed or printed in Braille on the card surface, with key features including durable tactile markings integrated during the card personalization process. For instance, in June 2024, IDEMIA Group, a France-based identity and payments technology company, partnered with The Arab National Bank, a Saudi Arabia-based bank, to launch a payment card featuring Braille printing technology, marking a country-first rollout in the Kingdom of Saudi Arabia and illustrating how issuers and vendors are embedding accessibility into mainstream card offerings. The IDEMIA-ANB Braille card is manufactured and personalized like standard payment cards but incorporates tactile Braille for the card number, expiration date, and CVV, functions seamlessly at point-of-sale terminals and in card-not-present transactions while maintaining EMV security standards, delivers greater independence and confidence for customers, and can be deployed across retail banking, digital onboarding, and broader inclusive product portfolios.

In October 2023, IDEX Biometrics ASA, a Norway-based biometrics company, partnered with KONA I, a South Korea-based smart card and fintech provider, to launch a line of biometric payment cards. These cards are made from recycled PVC and metal and integrate biometric authentication technology, combining security with environmental responsibility. This partnership aims to meet the growing global demand for high-end, sustainable smart card solutions in the financial sector.

Major companies operating in the banking and financial smart cards market are American Express Company, Sberbank of Russia, Visa Inc., Mastercard Incorporated, Thales S.A., Infineon Technologies AG, NXP Semiconductors N.V., Toppan Inc., Giesecke+Devrient GmbH, IDEMIA France SAS, HID Global Corporation, CPI Card Group Inc., Bundesdruckerei GmbH, Muehlbauer GmbH & Co. KG, Shenzhen Tianyu Information Industry Co. Ltd., Hengbao Co. Ltd., Inkript Holding SAL, American Banknote Corporation, Trüb AG, Watchdata Technologies Ltd., CardLogix Corporation, Ellams Products Ltd.

North America was the largest region in the banking and financial smart cards market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the banking and financial smart cards market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the banking and financial smart cards market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The banking and financial smart cards market includes revenues earned by entities by providing services such as secure payment transactions, online banking access, cross-border transactions, stored value functionality, and personal financial management. The market value includes the value of related goods sold by the service provider or included within the service offering. The banking and financial smart card market also consists of sales of contactless payment cards, magnetic stripe cards, credit cards, debit cards, prepaid cards, smart card readers, and Europay, Mastercard, and Visa (EMV) smart cards. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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