Up to 1 Billion Payment Cards at Risk of Not Being Issued as Chip Shortage Impact Looms Over the Payment Cards Industry

LONDON, Aug. 5, 2021 /PRNewswire/ -- Driven by significant chip shortages, up to 1 billion payment cards are at risk of not being issued over an 18-month timeframe, with 347 million at risk in 2021 and up to 740 million in 2022, according to ABI Research, a global tech market advisory firm. It has been well documented that the entire semi-conductor industry is currently going through a high level of uncertainty as demand for chips continues to far exceed all expectations across all industry segments. Supply cannot currently keep up with increasing demand and the payment cards industry is by no means immune from this situation.