Myriad factors are conspiring to make the card industry increasingly complex. Cross-border entry by US banks poses a threat for many European issuers, and advances in card security look set to reduce losses through fraud. The report examines developments in new technologies such as electronic commerce, multifunction smartcards and electronic cash. This report looks at the effect of each of these in turn, analyzing how issuers and related card companies are responding to the changing environment with new product development and innovations in marketing and distribution strategies. From Reuters Business Insight.