If most banks are still using magnetic cards, a lot of them are now switching to smart cards as they offer higher levels of security and efficiency. Contactless smart cards can be read by simply waving them in front of a reader, which would significantly streamline the payment process. The right ID card system can encode and print highly secure cards at an affordable price point.
The development of these technologies allows retail shops to create store cards that serve as loyalty and payment cards. Issuing payment cards is no longer reserved for financial institutions. A coffee shop, clothing store or beauty salon can now produce personalized ID cards for multiple applications and manage their whole system onsite.