A smart card comprises an integrated circuit chip implanted in it. The IC chip can be a simple memory circuit or a microprocessor with memory. Smart card ICs enable users to exchange information, store it, and operate information.
Smart cards are highly suitable to
use and are mostly used in educational institutions, banks, offices, and shops,
to accomplish various transactions, this suitability is powered by its
integrated circuit.
Moreover, smart cards have enabled the
convenience as well as safety of any transactions. The technology employed in
these cards will assist the users in storing private information.
Who Uses Smart Card IC?
Smart card ICs are adopted by
educational institutions, hotels, offices, BFSI, telecommunications, and more
to enable access to his or her bank account, or access to a cardholder into
premises.
Moreover, among these users, smart cards
IC is largely used in the telecommunications sector. This is owing to the
utilization of integrated circuits in subscriber identity modules, due to the
increasing adoption of smartphones. Companies are not only providing prepaid or
postpaid SIMs but also offering the pay-as-you-go types with less paperwork,
which enables the customers to easily attain these cards.
Furthermore, the government sector is
also gradually using smart card ICs. This will be because of the rising usage
of smart cards in different documentation equipment like chip-embedded
passports, driver’s licenses, and IDs. This is because they are more protected
because they use different encryption algorithms in their security systems.
Different nations, including the U.S.,
are using these cards as a suitable technology for identification applications
that must meet key security necessities.
Due to this positive application of
smart cards in the U.S., other nations, such as Singapore, India, Jamaica, the
Bahamas, and Barbados, are also looking at them as a health card, identity
proof, and various other platforms.
Difference Interface of Smart Card IC
Contact: The
contact interface needs physical contact with the card reader to transmit
information and enable further functions. These cards must be inserted into the
card reader and kept in contact during the transaction. Contact type of smart
cards IC is utilized in credit/debit cards, access control cards, and SIM.
Contactless: The
contactless interface enables data communication with the card readers without
requiring any physical contact. These cards communicate by radio frequencies or
by creating near-field contact with card readers. Such smart card IC is used in
new wireless credit cards, contactless access control systems, and hotel rooms.
Dual-Interface: Dual-interface
can work in both ways, contactless and contact means. This can solve the
problem of keeping a particular kind of card reader since it is compatible with
both types. These types of smart cards IC are increasingly becoming popular and
can also complete any required function such as bank transactions, access
control, and identification.
In Closing
With the increasing usage of financial
cards as well as various other secure payment solutions, the requirement for
smart card IC will continue to rise, and it will reach a value of USD 4,929.8
million by the end of this decade.
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