Between 2013 and 2023, the number of POS transactions in China grew significantly, from 12.97 billion units to 53.56 billion units, showcasing an impressive expansion. However, the year-on-year growth rate decreased over time, illustrating a maturing market. Notably, the CAGR from 2018 to 2023 was 5.61%, indicating a stabilization phase.
For 2022 and 2023, the year-on-year variations were 0.15% and 4.8%, respectively, pointing to a slower growth trajectory. Forecasts predict that by 2028, the number of transactions will reach 65.22 billion units, with a 5-year CAGR of 3.03%, leading to a total growth rate of 16.12% over the period.
Future trends to watch for include:
- Integration of advanced payment technologies such as biometrics and AI.
- Rise in mobile and digital wallet usage.
- Increased adoption of contactless and NFC payments.
- Continued modernization of POS infrastructure.
