Editoria e Media
Fixed POS Terminal Market Size to Reach Revenues of USD 13.5 Billion by 2026 - Arizton
https://www.arizton.com/market-reports/fixed-pos-terminal-market-research-analysis
Cloud-based technology is one of the key innovations of the last decade. COVID-19 has strengthened technology used in traditional fixed POS terminals. For instance, in a rapidly changing environment, Ingenico is revolutionizing the market by introducing new trends and innovating ways of supporting customer needs. The transformation in the payment acceptance model has evolved from a hardware-centric payment acceptance model to software and services-centric model. In the long-term, this will further become a recurring as-a-service revenue model based on their cloud-based platform. This is not only restricted to the banks and acquires, but it is likely to cater to the demand from the fintech start-ups. The company plans to offer cloud-based payment-acceptance platforms open to the market, which is likely to be known as a Payments Platform as a Service (PPaaS) solution.
The COVID-19 outbreak had relatively slowed down the market the first H1 2020. The retail segments being the major adopters of the fixed POS terminals, witnessed a drop of more than 30% in H1 2020, causing a slow down in demand and installation rate. However, on the other hand, COVID-19 also benefited the market as it witnessed a surge in the concept of contactless payments, which is likely to push the demand for NFC-ready fixed POS terminals. Even with the modernization of payment systems, the domination of cash has declined for payment services. For instance, in China in 2020, the use of cash payment dropped to 7% from 14% in 2018. However, with changes in technology and the emergence of innovative financial services, the use of payment cards and e-wallets has strengthened in recent years. Due to the low awareness in rural areas, the contribution to the transaction value of card payments is lower from rural areas. With rising internet penetration, it has opened a gateway for the digital economy, which has enabled the shift of payment forms. At POS terminals, the average per transaction using credit cards increased marginally in recent years, but debit cards have been almost stagnant.
https://www.arizton.com/market-reports/fixed-pos-terminal-market-research-analysis
Explore our smart tech profiles to know more about the industry.
Read some of the top-selling reports:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Mail: enquiry@arizton.com
Call: +1-312-235-2040
+1 302 469 0707
Logo - https://mma.prnewswire.com/media/818553/Arizton_Logo.jpg