Chips Shortage Could Sideline 1B Payment Cards: ABI
About a billion chip-based payment cards globally run the risk of not being issued because the payments industry doesn’t have enough semiconductors to go around, reported ABI Research Thursday. It estimates the shortage will keep 347 million cards from going…
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out in 2021, and 740 million cards next year. Though payment cards don’t get the attention or the support from governments they deserve, they’re “a critical enabler for global economies,” said analyst Phil Sealy. “Most concerning is the potential disruption to GDP,” because a lack of payment cards will directly translate into fewer purchases, he said.