PETALING JAYA: IF Security Solution Sdn Bhd (IFSS Malaysia) has opened a smart card production facility in Petaling Jaya with an annual capacity of 40 million bank cards and SIM cards, targeting revenue of about RM100mil a year.
In a statement, the smart card company said the facility's production capacity could be increased to 80 million cards annually by operating two shifts.
The Regional Personalisation Services Centre (RPS Centre), developed in partnership with Singapore-based IF Security Solution Pte Ltd (IFSS), has 10 production lines providing smart card manufacturing, personalisation and fulfilment services.
The facility will serve banks, fintech companies, government institutions and telecommunications operators in Malaysia and overseas.
It will produce credit, debit, prepaid and government cards, as well as physical SIM cards and eSIM solutions for 4G and 5G networks.
The centre is equipped with machines capable of personalising up to 1,600 bank cards an hour per line and 5,000 SIM cards an hour per SIM line.
Its fulfilment lines can process between 1,500 and 2,000 card mailers an hour.
IFSS Malaysia general manager Melvin Lee said the company was targeting customers across Malaysia, Europe, Africa, Latin America and the Middle East.
“With an annual production capacity of approximately 40 million smart cards on a single shift, and up to 80 million on two shifts, we are aiming to achieve revenue of approximately US$25.6mil or roughly RM104.5mil a year, assuming an 80% utilisation rate on a single shift. This would place IFSS Malaysia among the top five local industry players,” he said.
Malaysia has an estimated 58 million active cards in circulation and 45 million SIM connections annually.
Globally, about 8.3 billion smart cards were shipped in 2025, including 2.94 billion EMV payment cards and 4.08 billion SIM cards.
According to Global Market Insights, the global smart card market was valued at an estimated US$65.2bil in 2025 and is projected to reach US$122.8bil by 2035.
