New research report shows how smart cards will improve privacy, reduce fraud, increase profits and cut costs in the twenty-first century.

The smart card market is growing at close to 50 per cent a year according to a new edition of a comprehensive industry research report, The Smart Card, published by SJB Services. This means that as many as three to four billion smart cards will be issued in the year 2000 compared with the 800 million issued in 1996.

Although many people are already using smart cards in some shape or form--the ubiquitous phone card, the Mondex cash card, certain customer loyalty cards, mobile phones -- most have no idea what a smart card actually is and how the "plastic card containing a silicon chip" will change their lives. According to The Smart Card, these cards are starting to change the way in which people live and work and even greater changes can be expected in the years to come.

Details of the changes in the industry and its markets over the past 18 months, the …