STRATEGIC PARTNERS
March 4, 2002
WASHINGTON, D.C.-- A Smart Card Forum report suggests that consumers in the U.S. are so fascinated by smart card technology they would actually be willing to pay to use multi-function cards.
In the survey, conducted for the Forum by an independent organization, 75 percent of those polled showed interest in the smart card concept.
A significant number of respondents said they would want to use the cards for functions including bank access and ATM services, to carry a record of driver and health insurance information, and as credit cards. Consumers said they would be willing to shell out up to $50 for the card itself and for up to $25 a year for an ongoing subscription.
Donna Farmer, the Forum's president, said that, in general, the survey showed that potential smart card users are younger, have higher incomes and own a PC -- the classic profile of the early technology adopter.
According to Farmer, the research, consisting of focus groups and separate telephone surveys, defined the smart card as a "card-sized unit with a memory that can hold just about any kind of information but requires some sort of reader to input or output data."
Of the 76 percent polled who claimed to be "extremely," "very" or "somewhat" interested in the smart card concept, about one-third were "extremely" or "very interested." Of those, most expressed interest in medical alert information, health insurance ID, ATM and related bank access, drivers license and credit cards.
Other potential uses included prescriptions, money for small purchases, medical records, other ID, discount shopping, money for larger purchases, frequent flyer information and other membership cards.
"We're pleased that those surveyed recognized the diverse uses of smart cards," Farmer said, adding that the key to unlocking the business potential of the industry is providing business users and consumers with a broad choice of applications on a smart card.
According to Farmer, the research tells the smart card industry that it must extend its efforts beyond early adopters and connect with the majority of consumers who need to be educated about the many benefits of smart card technology.
"There is a great opportunity here. Our ability to bridge that gap will determine the future success of our industry," she said.
