Card companies believe that every payment card in the world will eventually carry a chip. As the cost of implementing smart cards continues to decrease, most payment cards will become smart cards in the next few years in Asia Pacific.

Consumer research reveals that nearly 80 percent of consumers surveyed believe that smart cards will be an important part of their everyday life. More than three-quarters of consumers surveyed said they are attracted to smart cards that can consolidate payment functions and store personal data on the same card. Smart cards also have the potential to become lifestyle cards, holding a range of applications chosen by the cardholder.

Future smart cards will act not only as a payment card, but may also track status of frequent flyer membership and other value-added programs. The rental car upgrade and free-room bonus, for example, are rewards for loyalty patronage. The smart card user will not have to show a 'frequent guest' card at a hotel's front desk because a tiny microprocessor chip embedded in his/her smart card provides an up-to-the-minute record of his/her status in that reward club.

When that happens, you may be carrying fewer cards, but have more convenient and faster access to a wide array of information.