Payment Terminal Market by Type (Countertop Terminals, Integrated Terminal, Mobile Terminals), Component (Hardware, Services, Software), EMV Compliance, End User - Global Forecast 2024-2030
Description
Payment Terminal Market by Type (Countertop Terminals, Integrated Terminal, Mobile Terminals), Component (Hardware, Services, Software), EMV Compliance, End User - Global Forecast 2024-2030
The Payment Terminal Market size was estimated at USD 29.69 billion in 2023 and expected to reach USD 32.60 billion in 2024, at a CAGR 9.99% to reach USD 57.84 billion by 2030.
A payment terminal is a device, enabling the customer to conduct financial transactions when purchasing goods or services. They allow customers to pay for goods or services conveniently, reducing the reliance on physical currency. By providing a reliable platform to process payments, payment terminals help businesses provide customers with an improved experience by reducing wait times and improving security. Some payment terminals have additional features such as barcode scanners, EMV chip readers, NFC capabilities (contactless payments), and/or signature capture devices. Payment terminals are typically used in retail environments such as restaurants, supermarkets, and gas stations and for eCommerce transactions where customers need an efficient way to make purchases. Government initiatives to promote cashless and mobile payments are a major driving factor of NFC, magnetic stripes, and encrypted chip-based payment terminals. However, operational failures and security risks of these systems still remain a restraint. Market players are working on enhancing product security and performance capabilities while introducing new smart terminal solutions and self-service kiosks, and tap-to-pay terminal devices.
Regional Insights
The Americas payment terminal market is continuously advancing, driven by the wide adoption of advanced technologies such as tap-to-pay and smart retail stores. Players in the region are working on introducing more secure products that streamline processes such as identity verification and fraud prevention while also allowing customers greater access to their improved financial services. The introduction of guidelines such as PCI-DSS drives further adoption of these solutions, creating a safe environment for businesses to handle financial data. In the Asia-Pacific region, government initiatives encouraging cashless payments and the expansion of credit card usage have accelerated the demand for POS payments. The region has observed a significant rise in the use of mobile payment options due to the elevated popularity of eCommerce, which supports multiple payment options that require payment terminals. Asia is home to several established companies that have been providing high-quality products serving the growing retail sector in the region. The use of payment terminals in Europe is on the rise, with an increasing number of small & medium-sized businesses transitioning to cashless payment solutions. The usage of payment terminals in Europe is expected to continue to grow in both volume and sophistication over the next few years as market players take advantage of digital innovations such as artificial intelligence and machine learning.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Payment Terminal Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Growth of eCommerce and retail sectors offering multiple payment options
- Government initiatives encouraging cashless and mobile payment worldwide
- Use of NFC technology, magnetic stripes, and encrypted chips in payment terminals
- Market Restraints
- Technical limitations and operational failures of payment terminals
- Market Opportunities
- Introduction of smart payment terminal solutions and software
- New investments for self-service kiosks and tap-to-pay payment devices
- Market Challenges
- Security risks and lack of standardization of payment terminals
- Market Segmentation Analysis
- Type: Countertop terminals Evolved and Versatility of Modern Payment Terminals
- End User: Diverse Range of End User Are Evolving with the Enhancing User Experience and Operational Efficiency
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Payment Terminal Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Payment Terminal Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Aurionpro becomes First Indian Company to Launch EMV Card Type Payment Terminal (ECR-one) at UITP, Barcelona
Aurionpro Solutions Limited, a technology company, unveiled its groundbreaking EMV Card Type Payment terminal (ECR-one), ensuring the utmost safety of financial transactions. With its advanced capabilities, the ECR-one supports contactless payments for any EMV banking card, RuPay, closed-loop cards, and NFC, making it a truly comprehensive solution.
Ingenico Acquires Phos, extending its offer for Merchant Payment Acceptance via Smartphone
Ingenico, a global player in payment acceptance solutions, has successfully acquired Phos, a provider of software-only Point of Sale solutions (SoftPoS). With this acquisition, the company enabled the conversion of off-the-shelf smartphones or tablets into secure payment terminals, adhering to the highest standards of payment security.
TerraPay and Maya Forge Strategic Partnership to Revolutionize Global Remittances
Singapore Fintech Festival, TerraPay, a premier international payments network, has joined forces with Maya, the leading fintech ecosystem in the Philippines, to enhance cross-border payment solutions. This partnership enables users of the Maya app to conduct swift and secure money transfers from Korea, the USA, Singapore, and the Middle East, leveraging TerraPay's vast global network.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Payment Terminal Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Payment Terminal Market, highlighting leading vendors and their innovative profiles. These include Absa Group Limited, Adyen N.V., Altron Limited, BITEL Co., Ltd., Capital Appreciation Limited, Castles Technology, Cegid Group, Clearly Payments Inc., FEIG Electronic GmbH, Fidelity National Information Services, Inc., Fiserv, Inc., Fujian Newland Payment Technology Co., Ltd., INGENICO, iPay88, Maya Philippines, Inc., NCR Corporation, NEC Corporation, Panasonic Holdings Corporation, PAX Technology, Payfast by Network International Holdings PLC, PayPal Holdings, Inc., Pine Labs Private Limited, Razer Merchant Services, Samsung Electronics Co., Ltd., Shanghai SUNMI Technology Co., Ltd., Square, Inc. by Block, Inc., Squirrel Systems, Standard Bank Group, Stripe, Inc., SZZT Electronics Co., Ltd., Toshiba Corporation, Ukheshe Technologies Pty Ltd., UL LLC, UROVO Technology Corporation Ltd., VeriFone, Inc., WAPPoint (Pty) Ltd., WInpos Group AB, Worldline S.A., YOCO, and Zapper Marketing (Southern Africa) (Pty) Ltd..
Market Segmentation & Coverage
This research report categorizes the Payment Terminal Market to forecast the revenues and analyze trends in each of the following sub-markets:- Type
- Countertop Terminals
- Integrated Terminal
- Mobile Terminals
- Wireless Terminal
- Component
- Hardware
- Card Reader
- Monitor
- Receipt Printer
- Services
- Software
- EMV Compliance
- EMV
- Non-EMV
- End User
- Entertainment
- Healthcare
- Hospitality
- Retail & Ecommerce
- Transportation
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Hardware
- Market Drivers
Table of Contents
181 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Growth of eCommerce and retail sectors offering multiple payment options
- 5.1.1.2. Government initiatives encouraging cashless and mobile payment worldwide
- 5.1.1.3. Use of NFC technology, magnetic stripes, and encrypted chips in payment terminals
- 5.1.2. Restraints
- 5.1.2.1. Technical limitations and operational failures of payment terminals
- 5.1.3. Opportunities
- 5.1.3.1. Introduction of smart payment terminal solutions and software
- 5.1.3.2. New investments for self-service kiosks and tap-to-pay payment devices
- 5.1.4. Challenges
- 5.1.4.1. Security risks and lack of standardization of payment terminals
- 5.2. Market Segmentation Analysis
- 5.2.1. Type: Countertop terminals Evolved and Versatility of Modern Payment Terminals
- 5.2.2. End User: Diverse Range of End User Are Evolving with the Enhancing User Experience and Operational Efficiency
- 5.3. Porter’s Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
- 5.4. Value Chain & Critical Path Analysis
- 5.5. Regulatory Framework Analysis
- 6. Payment Terminal Market, by Type
- 6.1. Introduction
- 6.2. Countertop Terminals
- 6.3. Integrated Terminal
- 6.4. Mobile Terminals
- 6.5. Wireless Terminal
- 7. Payment Terminal Market, by Component
- 7.1. Introduction
- 7.2. Hardware
- 7.3. Services
- 7.4. Software
- 8. Payment Terminal Market, by EMV Compliance
- 8.1. Introduction
- 8.2. EMV
- 8.3. Non-EMV
- 9. Payment Terminal Market, by End User
- 9.1. Introduction
- 9.2. Entertainment
- 9.3. Healthcare
- 9.4. Hospitality
- 9.5. Retail & Ecommerce
- 9.6. Transportation
- 10. Americas Payment Terminal Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Payment Terminal Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Payment Terminal Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Aurionpro becomes First Indian Company to Launch EMV Card Type Payment Terminal (ECR-one) at UITP, Barcelona
- 13.3.2. Ingenico Acquires Phos, extending its offer for Merchant Payment Acceptance via Smartphone
- 13.3.3. TerraPay and Maya Forge Strategic Partnership to Revolutionize Global Remittances
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
Pricing
Currency Rates
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