About Card Payment Terminal
The card payment terminal, also called Point of Sale (POS) terminal, credit card terminal, or EFTPOS terminal. It is a device which interfaces with payment cards to make electronic funds transfers. The terminal comprises of a secure keypad to enter a PIN, a screen, a means of capturing information from payments cards and a network connection for accessing the payment network for authorisation. The card payment terminal allows the merchant to capture the card information of the user and transmit the data to the merchant service provider or a bank.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 15.2% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Card Payment Terminal market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Square Terminal (United States), KVSIO (China), Gilbarco Veeder-Root (United States), NCR (United States), Scheidt & Bachmann (Germany), Tokheim (United Kingdom), Quest Payment Systems (Australia), Verifone (United States), Invenco Group (New Zealand) and Unixfor S.A. (Greece) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Orpak Systems (Israel) and HTEC Ltd (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Card Payment Terminal market by Type (Counter top Card Machines, Portable Card Machines and Mobile Card Machines) and Region.
On the basis of geography, the market of Card 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 Components, the sub-segment i.e. Hardware will boost the Card 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 Use, the sub-segment i.e. Retail will boost the Card 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, the sub-segment i.e. On premise will boost the Card Payment Terminal market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements have Compelled the Users to Adopt Point-of-Sale Terminals
Market Growth Drivers:
Rising Demand of Contact less and Cashless Payments and Increasing Need of Keeping Track of Inventory
Challenges:
Need for Extensive Government Certifications
Restraints:
Increasing Data Security Concerns May Hamper the Market and Stringent Government Regulations
Opportunities:
Increasing Usage of Smartphones as the Portable POS System and Rising Investments in End to End Encryption Technology
Market Leaders and their expansionary development strategies
In Janaury 2023, Ingenico, a global leader in payments acceptance solutions, and Klarna, the global leader in the generational shift away from credit cards, today announced a global strategic partnership that will facilitate the roll out of Klarna’s flexible payment options at the point of sale using PPaaS, Ingenico’s innovative, cloud Payments Platform as a Service.
In September 2023, Pine Labs on Monday launched Mini, a new QR and card acceptance device, which is expected at nearly one-third of the cost of a regular point of sale (PoS) terminal. The QR-first and card tap contactless payments device is targeted at small and medium enterprises (SMEs) and further boost digital payments adoption in the country.
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organisations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.