EMV POS Terminal Market in the US 2018-2022
About EMV POS Terminal
A Europay, Mastercard, and Visa (EMV) point-of-sale (POS) terminal is a checkout terminal that uses an open-standard set of specifications for chip card payments. EMV ensures interoperability between POS terminals and chip-based payment cards. EMV POS terminal is a segment of the POS terminal market. The EMV standard was developed to facilitate secure payment transactions between chip-based payment cards and POS terminals.Technavio’s analysts forecast the EMV POS terminal market's CAGR is expected to be close to 9%, however, the market's growth momentum will decelerate owing to a decrease in the year over year growth.Covered in this report The report covers the present scenario and the growth prospects of the EMV POS terminal market in the US for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.Technavio's report, EMV POS Terminal Market in the US 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – EMV POS Terminal Market in the US 2018-2022
Technavio recognizes the following companies as the key players in the EMV POS terminal market in the US: First Data, Ingenico Group, Square, and Verifone.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emergence of biometric EMV POS terminals. Biometric EMV POS systems track the activities of the employees to prevent them from sharing access. Also, advantages such as reduced time taken to process transactions and increased security of the transactions drive the adoption of biometric EMV POS systems.”
According to the report, one driver in the market is increasing regulatory inventions on secure payments. Due to the growing security issues, government regulations and security standards are becoming stringent in the US. The government is encouraging numerous regulations and enforcing a rule for recertification of electronic payment systems for merchants/retailers.
Further, the report states that one challenge in the market is increase in mobile payments. US consumers are using digital payment options for online purchases. In 2017, more than 75% of the online shoppers across the US used digital payment services, including mobile wallets, one clicks checkout buttons, and point-to-point payment applications.
Johnson & Johnson
The Cooper Companies