Payment Industry: Analyzing Current Trends in the EMV POS Terminals Market

What are the dominant trends in contact chip card terminal markets?

The market for contact chip card terminals, recognized as EMV (Europay, MasterCard, and Visa) POS (Point Of Sale) Terminals, is expanding significantly. This is primarily driven by an increased awareness for enhanced security in retail and commercial application, as these devices are less susceptible to fraud. The implementation of stringent regulatory standards by governments for secure payments is further encouraging the uptake of these terminals.

What is the market projection based on key regions?

Geographically, the market is observing substantial growth in regions like the Asia Pacific and North America as a consequence of rapid urbanization, evolving consumer preferences and rise in cashless transactions. In particular, the Asia-Pacific region is expected to witness record growth due to increased proliferation of contactless payment systems in emerging economies such as India and China. North America, on the other hand, sees stability in this market due to already prevalent usage.

What factors are influencing the competitive market dynamics?

This market is also characterized by intense competition among key players and continuous technological advancements. Business strategies such as mergers and acquisitions, collaborations with e-commerce retailers, and continuous product development are prevalent, to increase market share and expand customer base. Emerging technologies, such as NFC (Near Field Communication) and mobile wallets, have begun to exert influence, thereby enlarging the terminal market’s scope.