NFC Times Exclusive Insight – France-based Gemalto, which is keen to take the spotlight off its SIM business, projects EMV cards to represent perhaps the largest expected source of revenue growth in the coming year.

Coming off a year in which SIM revenue was stagnant and is expected to continue to be a low-growth activity in 2015, Gemalto said EMV cards, led by shipments to banks in the U.S. and China,  increased the vendor’s payments business by 16% in 2014. The payments business represented the bulk of Gemalto’s nearly €1.2 billion (US$1.5 billion) in revenue in the vendor’s Payment & Identity division.

CEO Olivier Piou has projected that EMV will generate €100 million of additional revenue in 2015.