CompoSecure, IDEMIA, and Thales Named Market Leaders in ABI Research's Metal Payment Card Competitive Ranking
NEW YORK, Dec. 12, 2023 /PRNewswire/ -- The Metal Payment Card competitive assessment by global technology intelligence firm ABI Research provides an in-depth, unbiased examination and ranking of ten prominent providers of Metal Payment Cards. The rankings are based on various chosen criteria, split into two overarching categories, covering implementation and innovation, including durability, design features/capabilities, security, sustainability, convergent technologies, global reach, product/service range, market share for overall and metal payment cards, and partnerships/customers. These criteria were identified as vital for the metal payment card market's continual market development and relevance. The companies evaluated and ranked are:
"Financial institutions are constantly competing to differentiate themselves from their competitors, which has placed the metal payment card as an offering in a prime position to provide a demonstrable physical and tangible value. The metal payment card has successfully carved out its own segment in the payment cards market by offering a secure and durable option for banks and their end-users, alongside the physical appeal," explains Sam Gazeley, Digital Payment Technologies Analyst at ABI Research.
ABI Research ranked CompoSecure as the market leader in the assessment because it goes beyond metal. It combines Gorilla Glass's Lux Glass offering and Echo Mirror's mirror solution to supply banks with one-of-a-kind differentiated payment cards. This is supported by the fact that other vendors use their offerings to supply projects, ensuring a consistently strong level of business for CompoSecure.
IDEMIA ranked second on the overall scores and first in implementation through its strong presence in a wide range of countries, historically strong position in the payment card market, and its acquisition of X Core, reinforcing its range of innovative personalization options for metal payment cards.
Thales rounded out the market leaders, earning third place overall, ranking second in innovation, and third in implementation due to its strong portfolio of metal payment cards, alongside a well-established history of supplying EMV payment card projects in all regions. Thales has also made great strides in stainless steel and tungsten recycling, localized metal card production to reduce transport-linked carbon output, and recycling programs for issuer-led collection and recycling.
"It is evident that, as the metal payment card has become more commonly included in financial institutions' payment card portfolios, vendors active in this space have had to rapidly develop compelling and attractive solutions to secure a place in this growing market segment, with the best innovators and implementers securing a wider share of the market," Gazeley concludes.
These findings are from ABI Research's Metal Payment Card competitive ranking report. This report is part of the company's Digital Payment Technologies and Cybersecurity Applications research services, which include research, data, and ABI Insights. Competitive Ranking reports offer a comprehensive analysis of implementation strategies and innovation and market share analysis to offer unparalleled insight into a company's performance and standing compared to its competitors.
About ABI Research
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SOURCE ABI Research