EAST POLL January to April 2022
The future of Physical Payment Cards
The world’s first payment card was introduced in New York back in 1950, where the Diners Club Card was born. The first Diners Club Cards were made from cardboard with printed ink displaying the card details. In 1959, American Express introduced plastic cards. The vast majority of the 6 billion payment cards produced each year are PVC plastic cards.
In the 1970s, cards with a magnetic stripe (magstripe) containing the card details emerged, which in many markets were replaced by chip cards some 20–40 years later.
Quite recently, the migration from contact to contactless cards was set in motion, and today almost 70% of all the world’s issued cards are contactless.
Today most of us are used to carrying a payment card (or cards) in our wallets. But what does the future hold? Are physical payment cards going to be replaced by virtual cards or other payment mechanisms such as mobile wallets?
Take the poll to express your view.
Your opinion counts; Through these research polls EAST regularly seeks to generate insight and opinion from members and non-members on a range of Payment and Terminal security and related issues.
Please check back regularly to share your views. Contact us if you would like to pass additional feedback to EAST on this topic. Past poll results are in the file below.