Business Services Industry
Brazil: Boom in smart cards.
South American Business Information, August, 1999
The intelligent card with embedded chips is to attract a wave of investment in Brazil over the next three years, mainly due to the drop on prices compared with other bank and credit cards. Visa, for instance, partnered with 13 banks and started in Campinas, S=E3o Paulo state, the replacement of 21.5mil credit cards for smart cards. Other six banks are to join Visa such as Bradesco will also replace its 15mil credit cards. Mastercard is also moving into replacement, boosting the domestic demand for intelligent cards currently at 800,000 units per month. Manufacturers of intelligent are preparing for the growing demand. Darma Torga has dedicated a US$10mil new plant at Taubate, S=E3o Paulo state, with capacity for 1mil cards per month, that will also produce...
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