Bangkok, March 16, 2022 – dzcard, the leading secured smart card solution and digital security provider in South-East Asia, is launching "Resilience 2023." Resilience 2023 is dzcard’s contingency programme aiming at protecting its customers from the global chip shortage impacting the credit/debit card supply and helping them better manage the card supply constraints, delays, and price increases.
The entire smart card industry is currently going through a high level of uncertainty as demand for chips continues to far exceed all expectations across all industry segments. Although the chip shortage impact has remained manageable through the second half of 2021, 2022 should be considered the critical chip shortage impact year.
Today's chip shortage results in part from the founders' decision to prioritize consumer electronics during the COVID-19 pandemic, trade issues, lack of investment and economic sanctions against Russia over Ukraine invasion. The chip shortage is becoming critical for payment card manufacturers facing increasing difficulty obtaining chips.
Payment cards are used for 90% of non-cash-based transactions and up to 60% of online payments. Without a card, one cannot pay in-store, online, or withdraw cash. Consequently, an uninterrupted supply chain for payment cards is indispensable to daily life and commerce.
Banks card suppliers face a hard time due to a severe shortage of chips. With the shortage showing no sign of ending, industry players react differently by developing various short term strategies. Some seem to sell to the highest bidder; others dramatically increase the price for cards supplied to banks by taking advantage of the situation.
Banks across the globe are now exposed to the risk of being unable to supply new bank cards or renew them to existing customers. For dzcard, maintaining an unbroken supply chain for payment cards is critical to guarantee the continuation of our customers' business. dzcard has decided to implement Resilience 2023 to minimize market disruption and maintain a business-as-usual approach for its customers. Resilience 2023 is a unique open platform accessible to all dzcard customers. Joining the platform grants the following benefits:
· dzcard guarantees the volume of cards and delivery times to meet customers' full demands.
· dzcard and customers are sharing the impact of chip prices going up or down, depending on the market whims;
· customers work closely with dzcard to place advance orders of the number of debit/credit cards needed.
"During the past few months, while the market has seen significant chip shortages, dzcard demonstrated its endurance throughout the pandemic. We've managed to provide cards to all of our customers under unprecedented conditions, including during lockdowns and a highly volatile supply situation," said Renaud Adam, CEO of dzcard Group. "With Resilience 2023, we stand out for an approach that focuses on an active partnership with our customers to build a win-win strategy and guarantee their profit while sharing the cost increase of chips."
About dzcard
Founded in 1971, dzcard is a leading secured smart card solution and digital security provider headquartered in Thailand, with subsidiaries in India, Malaysia, the Philippines and Tanzania. dzcard is securing everyday lives in a connected world.
dzcard aims to provide solutions to the increasingly complex and fragmented digital lives by securing transactions, protecting identities and ensuring connections. It is empowering payment, fintech’s, telecom and governmental institutions with trustworthy product & solutions.
dzcard is fully integrated company and offer entire range products, cards, packaging, personalization, digital solutions and encrypted authentication.
The company has more than 800 collaborators, operations in 3 continents. It has 2 factories and 5 schemes certified personalization centers. dzcard is one of the top 10 largest secured smart card providers globally with strong relationships with key banks, financial institutions, telecom operators and major retailers in over 40 countries.
For more information, visit www.dzcard.com or follow dzcard on LinkedIn.
dzcard media contact:
Renaud Adam
Bangkok, Thailand
+66 2 705 1939
