Payment Terminal Market Definition
The global payment terminal market is expected to witness high demand due to the increasing digitization and growing use of the internet across the world. A payment terminal, also called as a point of sale terminal, credit card terminal and EFTPOS terminal. It is used to transfer money from one bank to another via computer system by using payment cards. It is available on desktop, handheld, and mobile forms. The payment terminal is applicable in payment operations such as bill payment, payment collection, card payments, printing, data examination, and others.
The market study is broken down by Type (Desktop, Handheld and Mobile) and major geographies with country level splits. According to AMA, the Global Payment Terminal market is expected to see growth rate of 11.21%
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Payment Terminal market throughout the predicted period.
First Data (United States), Ingenico (France), NCR Corporation (United States), PAX Technology (China), VeriFone (United States), SZZT (United States), Newland (China), XINGUODU (China), Toshiba Corporation (Japan), Samsung Electronics Inc. (United States) and MICROS Systems Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are New POS (China), Clover (United States), Equinox (United States), Hypercom (United States) and IDTech (United States).
AdvanceMarketAnalytics has segmented the market of Global Payment Terminal market by Type, Application and Region.
On the basis of geography, the market of Payment Terminal has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Mobile NFC will boost the Payment Terminal market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Model, the sub-segment i.e. Cloud will boost the Payment Terminal market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Merchant will boost the Payment Terminal market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 1st October 2018, SIA, a European high-tech leader in payment infrastructure and services has acquired First Data Corporation a global leader in commerce-enabling technology. The deal was establish 387 million dollar.
On 10th October 2018, First Data, the global commerce-enabling technology company and BlueSnap, a payments technology provider are together for all in one payment platform with the suite of payments results presented by First Data.
- Adoption of Chip-Embedded Payment Cards
- Cloud Base Payment Terminals
- Escalating Customer Preference towards Contactless Card Payment
- Rising Demand of New Technology Such as Wireless Terminal and Mobile Terminal
- Growing Internet Penetration across the World
- Technological Innovations such as Use of SaaS-based systems
- High Adoption due to Growing Customer Inclination in Developing Countries
- Increasing Security Issues
- Payment May Not be Delivered Due to System Error
- Strict Government Regulations
Key Target AudiencePayment Terminal Service Providers, Software Developers, Educational Institution, University, Payment Terminal Distributor/ Retailer, Government Research Organizations, Private Research Organizations and Others
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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