Payment card trade body Smart Payments Association has warned that global Debit and Credit card supplies could soon be affected by the chip shortage currently affecting many industries.
Card manufacturers are facing difficulties in obtaining chips due to bottlenecks in the supply chain.
The trade body says that the situation has now become critical, and has called on governments and stakeholders to improve the situation.
It further added that nearly 90 percent of non-cash consumer payments are made using cards in physical stores.