Many people will see their bank card expire in 2022.

If usually a new card is sent to them to replace the old one, banks could have unprecedented difficulties in supplying their customers, due to a global shortage of components, reports CNews.

Quadruple waiting times for parts

Between 2020 and today, the time to obtain the chips necessary for the manufacture of bank cards would indeed have been multiplied by three or four, according to Cuong H. Duong, CEO of Linxens, central company of the market.

Now having to wait 9 to 12 months to be supplied, the company fears "a snowball effect" which would lead to a shortage of bank cards.

This shortage would be all the more serious since the banks are not in a position, for the moment, to artificially increase the expiration date of the cards while waiting for the economy to improve.

In addition, other sectors, such as the automotive industry, also depend on these chips and would not have anticipated this crisis, which could further reduce the global production capacity of bank cards.

Two years before a return to normal?

Among the explanatory factors of this shortage, we find at the origin the current problems of production of raw materials, extracted for the most part in South-East Asia.

But as with other recent shortages related to technological products, this crisis has been accentuated by financial speculation and by the shutdown of many factories due to Covid-19.

Thus, for Cuong H. Duong, "the situation may not return to normal before the end of 2023, or even the beginning of 2024" because of the significant demands from various sectors.

In addition to seeing their production capacity decline, the material cost of manufacturing boards could also increase, with a 40 to 45% increase in the price of some components is expected.

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  • Economy

  • Bank

  • Shortage

  • Components

  • Bank card

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