Commercial Payment Terminals Market
PUBLISHED: 2024 ID: SMRC26508
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Commercial Payment Terminals Market

Commercial Payment Terminals Market Forecasts to 2030 - Global Analysis By Product Type (Countertop Payment Terminals, Wireless/Portable Payment Terminals, Mobile Payment Solutions, Integrated Payment Systems, Unattended Payment Terminals, Contactless/NFC Payment Terminals, Multifunctional Payment Terminals, PIN Pads and Other Product Types), Technology, Deployment, End User and By Geography

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4.7 (71 reviews)
Published: 2024 ID: SMRC26508

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Commercial Payment Terminals Market is growing at a CAGR of 14.5% during the forecast period. Commercial payment terminals are devices used by businesses to process electronic payments, primarily through credit and debit cards. These terminals facilitate secure transactions by reading card information via magnetic stripes, chips, or contactless methods like NFC (Near Field Communication). They connect to payment processors over various networks, ensuring that the funds are appropriately transferred from the customer’s bank to the merchant’s account. Modern payment terminals often support additional functionalities, such as printing receipts, tipping options, and integration with point-of-sale (POS) systems. They can also handle various payment methods, including mobile wallets like Apple Pay and Google Pay, enhancing customer convenience and satisfaction. 

According to statistics from worldplay the most popular payment method in the UK last year was debit cards which accounted for 45 % and 28 % respectively of all payments made at POS terminals

Market Dynamics: 

Driver: 

Shift towards cashless transactions

Increased adoption of credit/debit cards, mobile payments, and digital wallets has driven demand for advanced payment terminals. These terminals are becoming more sophisticated, offering enhanced security features, faster processing speeds, and greater compatibility with various payment methods. Businesses are investing in these technologies to meet consumer preferences for convenient and secure payment options. Consequently, the market is experiencing robust growth, fueled by technological advancements, regulatory support for digital payments, and a global trend towards reducing cash usage.

Restraint:

Security concerns

Incidents of fraud, data breaches, and hacking attacks highlight vulnerabilities in payment systems, leading to increased scrutiny and regulatory pressures. These security issues necessitate significant investments in advanced encryption, tokenization, and compliance with stringent standards like PCI DSS, which can be costly for businesses. Additionally, frequent updates and maintenance to safeguard against emerging threats can strain resources.

Opportunity:

Increasing adoption of mobile wallets

As consumers prefer the convenience and speed of mobile wallet transactions, businesses are investing in updated payment terminals to accommodate this demand. This trend encourages technological advancements and innovation in terminal features, enhancing security and user experience. Consequently, the market for commercial payment terminals is expanding, with manufacturers focusing on developing versatile, future-proof devices that seamlessly integrate with mobile payment solutions, thereby boosting overall market growth.

Threat:

Competition from alternative payment methods

Competition from alternative payment methods, such as peer-to-peer (P2P) payment apps and cryptocurrency, negatively impacts the commercial payment terminals market by reducing reliance on traditional card-based transactions. These alternatives often bypass traditional payment terminals, offering direct, fee-free, and convenient transaction options. As consumers and businesses adopt these methods, demand for conventional payment terminals may decline. This shift forces terminal providers to innovate and adapt, incurring additional costs hampering the growth of the market.

Covid-19 Impact 

The COVID-19 pandemic significantly impacted the commercial payment terminals market by accelerating the shift towards cashless and contactless payments. Health concerns over virus transmission prompted consumers and businesses to favor electronic transactions, driving demand for advanced payment terminals. Retailers and service providers invested in contactless-enabled devices to meet this new preference, enhancing market growth. However, the economic downturn and disruptions in global supply chains caused temporary slowdowns in production and deployment.

The integrated payment system segment is expected to be the largest during the forecast period

The integrated payment system is expected to be the largest during the forecast period as these systems combine payment processing with other business operations, such as inventory management and customer relationship management (CRM), into a single platform. This integration streamlines operations for merchants, offering a seamless and efficient solution that reduces the need for multiple devices and systems. Consequently, demand for multifunctional, integrated payment terminals increases, driving innovation and market growth.

The magnetic stripe readers segment is expected to have the highest CAGR during the forecast period

The magnetic stripe readers segment is expected to have the highest CAGR during the forecast period due to the shift towards more secure and advanced payment technologies. While they were once standard, the rise of EMV chip cards and contactless payments has led to a decline in reliance on magnetic stripe readers. This shift pressures terminal manufacturers to innovate and upgrade their devices to support newer technologies, potentially reducing the market share of traditional magnetic stripe readers.

Region with largest share:

North America is projected to hold the largest market share during the forecast period as the region is at the forefront of adopting advanced payment technologies, including EMV chip cards, contactless payments, and mobile wallets like Apple Pay and Google Pay. This trend demands continual upgrades and innovation in payment terminal features. Moreover stringent security regulations, such as PCI DSS compliance, influence the market, necessitating robust security features in payment terminals to protect against fraud and data breaches drive the market growth in this region.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period owing to region's increasing digitalization and smartphone penetration are driving the adoption of electronic payment methods, including mobile wallets and QR code payments. In addition the sheer size of the population and the emergence of various economies present vast opportunities for payment terminal providers to tap into a growing market.

Key players in the market

Some of the key players in Commercial Payment Terminals market include Adyen, BullGuard Secure, Castles Technology, Diebold Nixdorf, Elavon, Fiserv, Global Payments Inc, Ingenico Group, NCR Corporation, Newland Payment Technology, NEXGO, PAX Technology, PayPal, Pioneer POS, SQUARE, SumUp, Toshiba Global Commerce Solutions, Verifone and Worldline 

Key Developments:

In March 2024, Ingenico, Binance and Nilos join forces to facilitate cryptocurrency acceptance. The new solution allows customers to make purchases in-store using cryptocurrencies and enables merchants to be directly compensated in their local currencies.

In January 2024, Global Payments and Commerzbank Announce Joint Venture in Germany. The new entity, Commerz Globalpay GmbH, is expected to launch in the first half of 2024 and will provide a comprehensive suite of innovative omnichannel payment

In January 2024, Ingenico partners with Cybersource to enable secured unified commerce solution. The partnership will create a global unified commerce solution for use in Asia Pacific first, followed by other regions.

Product Types Covered:
• Countertop Payment Terminals 
• Wireless/Portable Payment Terminals 
• Mobile Payment Solutions 
• Integrated Payment Systems 
• Unattended Payment Terminals 
• Contactless/NFC Payment Terminals 
• Multifunctional Payment Terminals 
• PIN Pads 
• Other Product Types 

Technologies Covered:
• EMV (Europay, Mastercard, Visa)
• NFC (Near Field Communication)
• Magnetic Stripe Readers
• Biometric Authentication
• QR Code Payments
• Other Technologies

Deployments Covered:
• Cloud-Based Terminals
• On-Premise Terminals

End Users Covered:
• Retail 
• Hospitality 
• Healthcare 
• Transportation 
• E-commerce 
• Government & Public Sector 
• Other End Users 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary          
            
2 Preface           
 2.1 Abstract          
 2.2 Stake Holders         
 2.3 Research Scope         
 2.4 Research Methodology        
  2.4.1 Data Mining        
  2.4.2 Data Analysis        
  2.4.3 Data Validation        
  2.4.4 Research Approach        
 2.5 Research Sources         
  2.5.1 Primary Research Sources       
  2.5.2 Secondary Research Sources       
  2.5.3 Assumptions        
            
3 Market Trend Analysis         
 3.1 Introduction         
 3.2 Drivers          
 3.3 Restraints         
 3.4 Opportunities         
 3.5 Threats          
 3.6 Product Analysis         
 3.7 Technology Analysis        
 3.8 End User Analysis         
 3.9 Emerging Markets         
 3.10 Impact of Covid-19         
            
4 Porters Five Force Analysis         
 4.1 Bargaining power of suppliers        
 4.2 Bargaining power of buyers        
 4.3 Threat of substitutes        
 4.4 Threat of new entrants        
 4.5 Competitive rivalry         
            
5 Global Commercial Payment Terminals Market, By Product Type     
 5.1 Introduction         
 5.2 Countertop Payment Terminals       
 5.3 Wireless/Portable Payment Terminals       
 5.4 Mobile Payment Solutions        
 5.5 Integrated Payment Systems        
 5.6 Unattended Payment Terminals       
 5.7 Contactless/NFC Payment Terminals       
 5.8 Multifunctional Payment Terminals       
 5.9 PIN Pads          
 5.10 Other Product Types        
            
6 Global Commercial Payment Terminals Market, By Technology     
 6.1 Introduction         
 6.2 EMV (Europay, Mastercard, Visa)       
 6.3 NFC (Near Field Communication)       
 6.4 Magnetic Stripe Readers        
 6.5 Biometric Authentication        
 6.6 QR Code Payments         
 6.7 Other Technologies         
            
7 Global Commercial Payment Terminals Market, By Deployment     
 7.1 Introduction         
 7.2 Cloud-Based Terminals        
 7.3 On-Premise Terminals        
            
8 Global Commercial Payment Terminals Market, By End User      
 8.1 Introduction         
 8.2 Retail          
 8.3 Hospitality         
 8.4 Healthcare         
 8.5 Transportation         
 8.6 E-commerce         
 8.7 Government & Public Sector        
 8.8 Other End Users         
            
9 Global Commercial Payment Terminals Market, By Geography     
 9.1 Introduction         
 9.2 North America         
  9.2.1 US         
  9.2.2 Canada         
  9.2.3 Mexico         
 9.3 Europe          
  9.3.1 Germany         
  9.3.2 UK         
  9.3.3 Italy         
  9.3.4 France         
  9.3.5 Spain         
  9.3.6 Rest of Europe        
 9.4 Asia Pacific         
  9.4.1 Japan         
  9.4.2 China         
  9.4.3 India         
  9.4.4 Australia         
  9.4.5 New Zealand        
  9.4.6 South Korea        
  9.4.7 Rest of Asia Pacific        
 9.5 South America         
  9.5.1 Argentina        
  9.5.2 Brazil         
  9.5.3 Chile         
  9.5.4 Rest of South America       
 9.6 Middle East & Africa        
  9.6.1 Saudi Arabia        
  9.6.2 UAE         
  9.6.3 Qatar         
  9.6.4 South Africa        
  9.6.5 Rest of Middle East & Africa       
            
10 Key Developments          
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures     
 10.2 Acquisitions & Mergers        
 10.3 New Product Launch        
 10.4 Expansions         
 10.5 Other Key Strategies        
            
11 Company Profiling          
 11.1 Adyen          
 11.2 BullGuard Secure         
 11.3 Castles Technology         
 11.4 Diebold Nixdorf         
 11.5 Elavon          
 11.6 Fiserv          
 11.7 Global Payments Inc        
 11.8 Ingenico Group         
 11.9 NCR Corporation         
 11.10 Newland Payment Technology           
 11.11 NEXGO          
 11.12 PAX Technology         
 11.13 PayPal          
 11.14 Pioneer POS         
 11.15 SQUARE          
 11.16 SumUp          
 11.17 Toshiba Global Commerce Solutions       
 11.18 Verifone          
 11.19 Worldline         
            
List of Tables           
1 Global Commercial Payment Terminals Market Outlook, By Region (2022-2030) ($MN)   
2 Global Commercial Payment Terminals Market Outlook, By Product Type (2022-2030) ($MN)   
3 Global Commercial Payment Terminals Market Outlook, By Countertop Payment Terminals (2022-2030) ($MN) 
4 Global Commercial Payment Terminals Market Outlook, By Wireless/Portable Payment Terminals (2022-2030) ($MN)
5 Global Commercial Payment Terminals Market Outlook, By Mobile Payment Solutions (2022-2030) ($MN) 
6 Global Commercial Payment Terminals Market Outlook, By Integrated Payment Systems (2022-2030) ($MN) 
7 Global Commercial Payment Terminals Market Outlook, By Unattended Payment Terminals (2022-2030) ($MN) 
8 Global Commercial Payment Terminals Market Outlook, By Contactless/NFC Payment Terminals (2022-2030) ($MN)
9 Global Commercial Payment Terminals Market Outlook, By Multifunctional Payment Terminals (2022-2030) ($MN) 
10 Global Commercial Payment Terminals Market Outlook, By PIN Pads (2022-2030) ($MN)   
11 Global Commercial Payment Terminals Market Outlook, By Other Product Types (2022-2030) ($MN)  
12 Global Commercial Payment Terminals Market Outlook, By Technology (2022-2030) ($MN)   
13 Global Commercial Payment Terminals Market Outlook, By EMV (Europay, Mastercard, Visa) (2022-2030) ($MN) 
14 Global Commercial Payment Terminals Market Outlook, By NFC (Near Field Communication) (2022-2030) ($MN) 
15 Global Commercial Payment Terminals Market Outlook, By Magnetic Stripe Readers (2022-2030) ($MN)  
16 Global Commercial Payment Terminals Market Outlook, By Biometric Authentication (2022-2030) ($MN) 
17 Global Commercial Payment Terminals Market Outlook, By QR Code Payments (2022-2030) ($MN)  
18 Global Commercial Payment Terminals Market Outlook, By Other Technologies (2022-2030) ($MN)  
19 Global Commercial Payment Terminals Market Outlook, By Deployment (2022-2030) ($MN)   
20 Global Commercial Payment Terminals Market Outlook, By Cloud-Based Terminals (2022-2030) ($MN)  
21 Global Commercial Payment Terminals Market Outlook, By On-Premise Terminals (2022-2030) ($MN)  
22 Global Commercial Payment Terminals Market Outlook, By End User (2022-2030) ($MN)   
23 Global Commercial Payment Terminals Market Outlook, By Retail (2022-2030) ($MN)   
24 Global Commercial Payment Terminals Market Outlook, By Hospitality (2022-2030) ($MN)   
25 Global Commercial Payment Terminals Market Outlook, By Healthcare (2022-2030) ($MN)   
26 Global Commercial Payment Terminals Market Outlook, By Transportation (2022-2030) ($MN)   
27 Global Commercial Payment Terminals Market Outlook, By E-commerce (2022-2030) ($MN)   
28 Global Commercial Payment Terminals Market Outlook, By Government & Public Sector (2022-2030) ($MN) 
29 Global Commercial Payment Terminals Market Outlook, By Other End Users (2022-2030) ($MN)  
            
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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