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THE INTRODUCTION OF SMARTCARDS IN SMALL EUROPEAN COUNTRIES: THE CASE OF CYPRUS

Soulla Louca, Demetris Nathanael

School of Business, Intercollege

Nicosia, Cyprus

Louca.s@Intercollege.ac.cy , d.nathanael@eac.com.cy

ABSTRACT

Countries that have pushed for the accelerated deployment of smartcards in an array of applications have witnessed how smartcards have contributed to the modernization of their economies and to a better quality of life for its citizens. As businesses move online, as administrative procedures are automated, as health care administration is computerized and as digital signatures and e-payments are introduced, the importance of smartcards has increased exponentially. This paper analyzes the marketing situational environment in Cyprus regarding smartcards and concentrates on a proposition of strategies that could be employed by a multinational organization for introducing multifunctional smartcards in the Cyprus market. A market research has been carried out within Cyprus, and a marketing plan for penetrating the Cyprus market is proposed.

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