The global shortage of semiconductors that has impacted myriad industries that use the chips, from automakers and electronics manufacturers to defense contractors and even soap manufacturers, is poised to affect payment card manufacturers, the Smart Payment Association announced Monday.
Bottlenecks in the chip card supply have become so acute that payment card manufacturers face increasing difficulties in obtaining the chips needed to produce cards, the SPA says. As a result, chip card manufacturers can expect hiccups in their production capacity to continue throughout 2022, the SPA says. More than 3 billion EMV-standard based payment cards need to be produced and delivered annually to consumers worldwide, according to the SPA.