Don’t leave home without your business cards.
Yes business cards are still important.
The bigger question is how and when to exchange them.

I am not a fan of handing out lots of business cards randomly except at meetings with people I have never met before.
But at the end of a satisfying conversation or even a positive brief exchange, to exchange business cards it is a good way to establish contacts.

In case the names are not that easy to spell it is a good idea to exchange the cards at the beginning of a meeting.
I then place them in front of me in positions corresponding to the actual positions of the owners of the business cards. 
And I do it in a subtle way that is respectful to the owners.
Remember; the business card symbolizes someone - handle it with due respect.

Next, what do you do with the business cards you collect?
My assistant transfers the data onto my computer so I have the data available whenever I need it.
Today it is easy to have it with you on your organizer, cellular phone etc.

Sometimes I send a brief pleased-to-meet-you e-mail to consolidate the connection and leave the door open for future contact.
While this step is not necessary, it can often be helpful to your new contact and you to remind both of you of your reason to stay in touch.

On one version of my business card I have a photo of myself.
The advantage is that this makes it easier for the receiver to remember me and connect my face with my name and offer.

There are cultural differences as to how to exchange business cards.
But there are some elements these situations all have in common.

In some cultures, the exchange of business cards symbolizes the beginning of a relationship.

The most ritualistic and sensitive to the practice of business card exchange are the Asian countries - Japan and Korea in particular.
Here, offering and receiving cards is a very formal ceremony.

Perhaps the least formal are the European, US-Americans and Australians where they are usually merely a function of giving someone your details and a reminder.

South Africans seem to have no formal exchange protocol.

In the Middle East mainly senior business people exchange business cards.

Exchange and receive business cards always with respect and decorum, whatever country you are in.
The business cards are symbols; the cards represent you and your partner.

Pass your card the right way up so the other person can read it immediately. This indicates consideration for the other person.

In a meeting placing the card in front of you on the table is an additional sign of respect.

Take the time to read someone's card and then put it away carefully shows respect.
Don’t put it into your back pocket!

Don’t write anything on other people’s business cards!
This is a great insult in some countries.

Show respect the way you hold a business card in your hands.
In some countries like Japan use both hands when you receive a card.

In some Asian countries they like photographs on the business cards. Because it is a good reminder it becomes more and more known also in Europe, where it is still not so common.

In some countries titles are very important.
They signify seniority and status.
Especially older Germans are proud of their titles and academic qualifications.
And Austrians are even more interested in titles.
This is changing with the younger generations and globalization.
And some big players sometimes understate their position because everyone recognizes their influence anyway

Have your business cards in two languages or at least in English and present the card with the other person’s language face up.