DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/53tx56/u_s_market) has announced the addition of the "U.S. Market Analysis of POS Terminals and EMV & NFC Status Review 2015" report to their offering.
After the major data breach that happened last year at Neiman Marcus,Target, Sally Beauty, Michaels, Home Depot, U.S. retailers have taken notable measures towards data security. Shifting to EMV is one such notable measure. The only major market which had low EMV adoption is now changing rapidly. Now, EMV is gathering steam in the U.S. before the liability shift in October 2015.
In the U.S. there are more than 33 million merchant establishments (single business location of a company which is engaged in a single activity). The retail and hospitality sector has around 7 million merchant establishments with more than one employee and there are about 13 million micro merchants who also belong to this category. The report has not considered merchant establishments under the agriculture, forestry, mining and manufacturing sector. In this study, the installed base of POS terminals is estimated to be approximately 12.7 million excluding mobile POS. The Installed base of POS Terminals with tier I and II retailers is around 4 million. However tier I and II retailers contribute to 75% of the payments transaction. EMV POS terminal adoption by various merchant categories varies drastically.
The specialty, mass merchants & grocery category and pharmacy/drug store category are leaders in the adoption of EMV POS with a penetration rate of more than 60% by the end of 2014. On the other hand, gasoline station merchants who enjoy a buffer time of two additional years for the liability shift have the lowest adoption rate of EMV. The adoption rate is still a single digit number. Regarding EMV adoption, we got a mixed response from hotels and restaurants. Many QSRs are reluctant to shift to EMV.
They say that the average transaction volume is much lower as compared to specialty, mass merchants &grocery category therefore they feel that the probability of a data breach is significantly low. When it comes to mobile POS systems, the others category which includes micro merchants are the largest adopters, primarily due to adoption of mobile card readers. Although the EMV and NFC adoption was very low till the end of 2014, micro merchants have also given us a hint that they will be moving to EMV and NFC in the next few years. Thus the EMV and NFC adoption rate is expected to significantly in next five years.
Key Topics Covered:
1. Project Methodology and Definitions
2. The POS Terminal Market in the U.S.
3. Gross Transaction Value of Retail Payments in the U.S.
4. Installed Base of POS Terminals in the U.S. (2015)
5. Projected Installed Base of POS Terminals in the U.S. (2020)
6. Recent Trends - Adoption of POS by Top Retailers
For more information visit http://www.researchandmarkets.com/research/53tx56/u_s_market
