The total value of transactions processed by POS terminals will grow by 28% to exceed $17.3trn by 2026.
Total transaction value from POS terminals in 2021 is expected to hit $14.8trn in 2021. This comes from a new study by Juniper Research.
The research claims this growth is being driven by a continually evolving payment processing landscape in which cash is becoming less prominent. It claims POS vendors should ensure they support omnichannel retail business models and are prepared to compete with alternative payment methods, such as QR codes.
These POS vendors must also integrate smart capabilities, including stock management and data analytics to their terminals, to maximise the value of their platforms to end users.
Furthermore, the study claims that usage of mobile point of sale terminals will also increase. The report documents the shipments of these terminals will grow from 20 million in 2021 to 32 million by 2026, a growth of 56%.
The POS Terminals: Device Innovation, Competitive Landscape & Market Forecasts 2021-2026 has a leader board, scoring vendors on service innovation, market investment and reach of services. The top of the list were Fiserv, PAX Technology, PayPal, Square, Worldline and Verifone.
It claims these vendors have achieved significant worldwide penetration and comprehensive breadth and depth of solutions in the POS market.
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