The global supply chain has drawn more mainstream attention over the past year than in generations – or perhaps ever. Supply chain issues have affected everything from shipping container shortages to automobile production to gaming consoles to, believe it or not, credit and debit cards.
A critical factor in most of the items previously mentioned is an ongoing shortage of silicon chips. Such chips are a building block for virtually all electronic products enjoyed by consumers worldwide.
We believe this supply risk should be on the radar of every financial institution, given the importance of keeping customers equipped with active payment cards. With effective planning, issuers can minimize the potential impact on their organizations.