Global Mobile EMV POS Terminals Market 2016-2020
About POS Terminals
POS terminals comprise both hardware and software and allow users to avail card payments directly without updating their cash registers. The cost of installing a terminal varies with the size of the business unit and the selling terms among the channel partners and suppliers. Segments such as pubs and take-out restaurants are integrating POS terminals in comparatively less volumes. Thus, the cost of installation is comparatively lower for these units. The demand for POS terminals is increasing because of the growing payment services and the use of debit or credit cards for safe and secure transactions among small- and medium-sized enterprises such as small hotels and restaurants.
Technavio’s analysts forecast the global mobile EMV POS terminals market to grow at a CAGR of 17.87% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global mobile EMV POS terminals market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sale of mobile EMV POS terminals, transaction fees, and other fees such as monthly fees charged by vendors.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Mobile EMV POS Terminals Market 2016-2020
Technavio recognizes the following companies as the key players in the global mobile EMV POS terminals market: Ingenico, PAX Technology, SZZT, and Verifone.
Other Prominent Vendors in the market are: Atos Worldline, CyberNet, Equinox Payments, First Data, NCR, and Spire Payments.
Commenting on the report, an analyst from Technavio’s team said: “Increased demand for value-added services will be a key trend for market growth. Conventional mobile EMV POS terminal vendors such as Ingenico and Verifone are providing different value-added services to their customers in the form of analytics, inventory management, advertising and marketing assistance, and other related consulting services. This has not only helped them increase the customer base but also retain the existing customers. Vendors are focusing on offering different value-added services using card transaction data. Inventory management, sales reports, analytical tools, and receipts management are some of the services provided by vendors. Many vendors are providing these services for free, while some charge a monthly service fee. These add-on services provide immense value to MSMEs but lack in terms of analytics, especially for large businesses. However, as the target market is largely MSMEs, offering such services is a solid strategy for vendors.”
According to the report, increasing number of card transactions will be a key driver for market growth. The increase in the use of credit and debit cards for payment transactions by consumers is encouraging the vendors to adopt payment mechanisms involving cards. In addition, consumers will use cards and digital money as a mode of payment more often than cash. This encourages mobile card readers to invest in the technology and market, with the assurance that merchants and consumers will process payments through card transactions.
Further, the report states that multiple instances of credit and debit card fraud continue to be a major challenge for stakeholders in the market. The most acutely affected stakeholders were banks until 2015. However, with the liability shift policy, merchants are liable for losses due to fraudulent activities involving card transactions. A large number of major economies such as Japan, Germany, the UK, and France are EMV compliant. However, countries such as the US, India, and China have yet to fully shift to EMV standards.
Ingenico, PAX Technology, SZZT, Verifone, Atos Worldline, CyberNet, Equinox Payments, First Data, NCR, and Spire Payments.