The analysts forecast the global Europay, MasterCard, and Visa point of sale terminals market to grow at a CAGR of 9.9% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global Europay, MasterCard, and Visa point of sale terminals market for 2017-2021. To calculate the market size, the report considers the total sales of EMV POS terminals (fixed line and mobile) across all the sectors such as retail and hospitality.
Europay, MasterCard, and Visa (EMV) is the standard for payment cards, payment terminals, and ATMs. EMV standards were developed to deliver safer payment transactions between chip-based payment cards and terminals. EMV POS terminals generate a dynamic code for every transaction, making it almost impossible for fraudsters to decode and retrieve customer information. When a POS terminal performs all the above functions and is EMV compatible, it is referred to as an EMV POS terminal.
One of the major drivers for this market is increasing penetration of contactless payments. The NFC POS systems have been continuously evolving with functionalities such as an increase in transaction limit, the emergence of NFC-enabled mobile EMV POS terminals, and, most importantly, a shift in consumer preferences for fast and reliable payment options. The market for NFC EMV POS terminals will grow significantly with an increase in the use of contactless cards and mobile payments during the forecast period.
- Regulatory intervention for secure payments
- Increasing penetration of contactless payments
- Increased card transactions
- Large potential end-user base
- Increased e-commerce transactions
- Strong value position for EMV card users and merchant
- Reaching out to MSMEs
- Growing number of online transactions
- Misconceptions regarding EMV POS terminals
- Low transactions speed of EMV POS terminals
- Software development, upgrading, and licensing expenses
- Increasing number of mobile devices with NFC
- Mobile phone OEMs coming up with magnetic secure transmission (MST) technology
- Big data management
- Shift from card providers to business solution providers
- PAX Technology
- SZZT Technology
Other prominent vendors
- ATOS Worldline
- First Data
- Spire Payments
For more information about this report visit http://www.researchandmarkets.com/research/dc45l3/global_emv_pos