A smart card is the next step in the evolution of plastic payment cards. Each smart card has an integrated circuit chip embedded into it, which gives it the power to perform many different functions. Thus, having a smart card is like having a PC in your wallet. With their ability to store up to 80 times more information than magnetic stripe cards, smart cards will allow Card Companies to deliver more personalized products and services providing consumers with custom-tailored cards to suit their individual lifestyle.

With a smart card, consumers will have the capability to carry multiple currencies when travelling; make secure purchases over the Internet anytime, anywhere; pay for public transportation and public phone calls; as well as make traditional credit and debit purchases – all with significantly fewer cards.



Eg : Petrocard introduced by Bharat Petroleum. One billion smart cards in use all over the world.