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“Credit cards are further down the list, and furthermore smaller credit card issuers are even further down the list. So that’s where we’re hearing about the longest delays, credit unions and community banks.”

The semiconductor shortage that started in 2020, has 5been exacerbated by increased demand and Russia’s invasion of Ukraine, which reduced the country’s output of neon, a key element in making chips.

“We’re facing a shortage of neon, which means that the manufacturing of chips is far more difficult.”

Last summer, the Smart Payment Association, a global industry group for cards and mobile payments, warned of a continued impact throughout 2023. And in recent weeks and months -- some credit unions and smaller banks -- have advised consumers the standard time to replace a card has 6stretched. Ted Rossman of Bankrate says this could be a time for consumers to take advantage of more 7contactlessoptions, 8implemented more widely during the pandemic.

“The pandemic did really 9juice 10adoption of things like Apple Pay and Google pay. They’ve been around for almost a decade but a lot of people became more comfortable transacting that way when they were afraid to touch physical payment terminals.”

A smartphone’s mobile wallet also allows a consumer to keep a card at home for 11safekeeping amid the current 12crunch.