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World EFT POS Terminals MarketsPublished by: Frost & Sullivan Published: Oct. 17, 2006 - 98 Pages Table of Contents1. Executive Summary AbstractResearch OverviewThis Frost & Sullivan research service titled World EFT POS Terminals Market provides insight into the Payment systems in the Retail market, including a complete analysis of key market drivers, restraints, and challenges facing the market currently. In this research service, Frost & Sullivan's expert analysts thoroughly examine the following markets: magnetic stripe terminals, smart card terminals, contactless terminals, IP-based terminals and wireless terminals. Market Sectors Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
The following technologies are covered in this research:
Increasing Use of Smart Cards and Escalating Fraud Impel the Need for Secure EFT POS Terminals Several countries in Latin America and the Asia Pacific are taking rapid strides in their Europay, MasterCard, and Visa (EMV) implementation plans. Malaysia, Thailand, Taiwan, and Japan are well advanced in their migration to chip cards. China, India, and Russia, are experiencing rapid growth in card-based payments. The use of smart cards is likely to increase in the United States following EMV initiatives in Canada and Latin America. As a direct consequence of this increased card security, miscreants find it increasingly difficult and expensive to sustain in such regions. There is a noticeable shift in card-related fraudulent activities to neighboring countries using less secure magnetic stripe cards for a majority of their transactions. With the United Kingdom implementing Chip and PIN and France implementing dynamic data authentication (DDA) cards, countries such as Germany and Italy are facing the brunt of the increasing migration of fraud. Singapore and Indonesia are facing a significant threat from fraud escalation and are considering a move toward EMV-compliant card technology. This phenomenon is significantly feeding the demand for electronic funds transfer (EFT) at point-of-sale (POS) terminals worldwide. Innovation in EFT POS Terminal Technology Can Spur Greater Market Demand "The EFT terminal market is fairly saturated in many regions such as North America and Europe in the tier 1 consumer segment and to an extent in the tier 2 consumer segments," cites the analyst of this research service. "However, there are certain significant technology trends that are revolutionizing this market." EMV migration deadlines set by Visa and MasterCard for each region are fuelling market demand globally. The use of Internet protocol (IP) technology at the POS is also helping further market growth. Wireless/mobile electronic payment solutions are being employed to increase transaction speeds and mobility for electronic transactions. Manufacturers are introducing new products that include programs such as e-commerce, advertising, couponing, and electronic receipt capture (ERC) that can expand merchant revenues and give them a competitive advantage. Modern POS terminals are built to manage multiple functions like gift programs, loyalty programs, and payment. "With the cost of these terminals steadily reducing, more retailers are opting to upgrade to these systems with greater security and multi-application capability," notes the analyst. Get Full Details About This Report >> |
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