Contactless PoS Terminal Market Scope
The term contactless payment refers to a secure method for consumers to purchase products or services using a debit, credit, smartcard, or another payment device by using radio frequency identification (RFID) technology and near-field communication (NFC). A terminal with contactless functionality, supporting it to accept contactless payments, comprising payments from contactless chip cards, mobile NFC devices that are enabled with payment application and authorizations and dual interface chip cards. Contactless payment application exist in a point-of-sale (PoS) terminal in accordance with multiple application kernels, one of each supported payment network.
The Contactless PoS Terminal market study is segmented by Type (Contactless Credit Card, Contactless Debit Card, Contactless Mobile Payment, Contactless Wearables and Other Payment Modes), by Application (Retail, Transportation, Banking, Government, Healthcare and Other) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Contactless PoS Terminal market throughout the predicted period.
GreenPeak Technologies (Netherlands), Silicon Laboratories (United States), Raytheon (United States), Verifone (United States), Atmel (United States), Ingenico Group (France), PAX Technology (United States), SMK Electronics (United States), Square (United States) and NCR (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are First Data (United States), Texas Instruments (United States), STMicroelectronics (Switzerland) and PayAnywhere (United States).
The 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.
AMA Research has segmented the market of Global Contactless PoS Terminal market by Type, Application and Region.
On the basis of geography, the market of Contactless PoS 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).
On 11 March 2021 Axis Bank on Wednesday launched the country's first contactless wearable payment devices to allow customers to make on-the-go transactions more conveniently. Announcing the 'Wear N Pay' wearable devices brand, the private lender said it is the first bank in India to offer such a service. and On 19 April 2021 Germany-based bank Sparkasse has announced launching the software solution S-POS for corporate customers allowing businesses to accept card payments from their customers on a standard Android smartphone.
- High Investments In Smart Wiring R&D
- Advancement In Contactless Payment Technology
- Increasing Adoption Of Smart Devices
- Technical Progress In Smart Device Industry
- Rising Awareness Of Plastic Money Among The Buyers
- Increasing Demand Across Emerging Regions
- Growing Market For Mobile Payments Adopting Across The Retail Sector
- Lack of Trained Professionals
- Fierce Competitive Pressure
- High Initial Installation Cost
Key Target AudienceContactless PoS Terminal Manufactures, New Entrants and Investors, Contactless PoS Terminal Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
Frequently Asked Questions (FAQ):
1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Contactless PoS Terminal Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.