A smart card, chip card, or combined circuit card, is a card utilized to control access to a resource. It is generally a plastic credit card-sized card with an implanted integrated circuit chip. Many smart cards include a pattern of metal connections to electrically connect to the internal chip.
India smart card market is noticing strong government support. Security, as always, stays a central driver. In 2022, India's Unified Payments Interface (UPI) processed more than 74 billion transactions, with a significant number of them secured by smart card technologies. This means the trust placed in smart cards for safeguarding the high-volume digital payments being done across the country. apart from the finance industry, India is pushing innovation in smart card applications across a range of sectors.
The Ayushman Bharat health insurance program, the world's largest, delivers more than 500 million beneficiaries with smart cards to facilitate healthcare access. Smart cards are also changing India's public transit sector. The Delhi Metro, a lifeline for millions of commuters, uses a smart card ticketing system, particularly reducing queues and enhancing efficiency. In addition to this, according to the research report of Astute Analytica, the India smart card market is growing at a compound annual growth rate (CAGR) of 7.22% during the forecast period from 2024 to 2032.
The benefits of smart cards are: -
Physical access – Access control cards are everywhere with door access control systems these days. But intelligent access control systems can combine them with car park entry points, lifts, and reception turnstiles to let personnel have trouble-free access to the places they require to be, while security managers can easily limit access to sensitive or higher security assets and areas.
Security credentials – Often their first and foremost goal. Smart cards deliver the perfect format for carrying security credentials including photo ID and even biometric data.
Cashless vending and parking – Monetary tokens or credits can be loaded onto access control cards for cashless spending on drinks and food from canteens or vending machines, or to cover car parking charges.
Access to devices – Smart cards can also maintain access to computers, printers, lockers, and other devices, decreasing the requirement for physical keys and or remembering passwords.
Business insight – Knowing where people are, what they are accessing, and at what times allows business managers to review resources and deploy them more efficiently and effectively.
Visitor management – Access control cards are great for handling visitors on-site. They can be pre-programmed to activate – and deactivate – at specific times and deliver bespoke access arrangements depending on the visitor.
Health and safety – Facilities managers can observe where access control cards – and their owners – are across the site at any given point. This information can be critical in emergencies, for instance, to check people are at muster points, or to locate first aiders.
Beyond smart cards – Smartphones and RFID bands are now also utilized for door access control and broader access arrangements. Utilizing a smartphone means people have one less thing to carry and remember, RFID bands are great for settings like leisure centres and holiday parks where customers can wear their key to open lockers, doors, and their accommodations.
