| The initial promise of smart cards to revolutionize personal business transactions is becoming a reality. Essentially a microcomputer in a credit card-like housing, the smart card is a viable platform for almost any application of traditional card technology now on the market, as well as many new applications unique to the technology. Rapidly developing processing capabilities, emerging standardization and the participation of key financial, computer and telecommunications industry players are driving an explosion in smart card application development. More than ever before, new capabilities in secure encryption, multiapplication programming and advanced point-of-sale transaction processing have made the smart card a more economical and flexible alternative for financial institutions, government agencies, retailers and other organizations. This report provides a current, detailed picture of the business and market opportunities in this rapidly growing industry.
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