Global EMV POS Terminals Market 2017-2021 with Ingenico, PAX Technology, SZZT Technology & Verifone Dominating - Research and Markets

DUBLIN--()--Research and Markets has announced the addition of the "Global EMV POS Terminals Market 2017-2021" report to their offering.

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.

Market Dynamics

Market drivers

  • 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

Market challenges

  • 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

Market trends

  • 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

Key vendors

  • Ingenico
  • PAX Technology
  • SZZT Technology
  • Verifone

Other prominent vendors

  • ATOS Worldline
  • CyberNet
  • Equinox
  • First Data
  • Keycorp
  • NCR
  • Spire Payments

For more information about this report visit http://www.researchandmarkets.com/research/dc45l3/global_emv_pos

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Bank Cards, Point of Sale Equipment

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Bank Cards, Point of Sale Equipment