The analysts forecast global wireless POS terminals market to grow at a CAGR of 13.7% over the period 2014-2019.
A POS refers to a system or a combination of systems that are used to facilitate easy and faster checkout for customers at various outlets. A standard POS system consists of a computer, monitor, cash drawer, receipt printer, barcode scanner, POS software, weight scale, and sometimes credit and debit card readers. A POS terminal is used for conducting sales and is used by retailers to manage information related to their inventory, customers, and cash flows. It is mainly used for retail sales management. A POS terminal not only improves the shopping experience for customers by reducing the processing time for payments but also helps them obtain and centralize information about sales of the respective products.
A POS terminal is used to process card payments at several sectors such as retail (supermarket, hypermarket, specialty stores, gas stations, drugstores, and mass merchandise stores) and hospitality (restaurants, hotels, takeaways, and pubs). A POS terminal performs the following functions:
- Reads the information off a customer’s credit/debit card
- Checks the funds status in a customer’s bank account
- Transfers funds from a customer’s account to a seller’s account
- Records the transaction
- Prints the receipt of transaction
- There are two types of POS terminal: fixed line POS and wireless POS.
This report covers the present scenario and the growth prospects of the global wireless POS terminals market for the period 2014-2019. To calculate the market size, the report considers the total shipments of wireless POS terminals. However, the report does not consider the following to estimate the market size: mPOS or any communication device that is being used as a POS terminal, sales of components used for the production of wireless POS terminals, and aftermarket sales of wireless POS terminals.
The report, Global Wireless POS Terminals Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; it also covers the landscape of the global wireless POS terminals market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
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- Pax Technology
Other prominent vendors
- ATOS Worldline
- First Data
- Spire Payments
Key market driver
- Growing adoption of EMV cards
Key market challenge
- Slow adoption rate
Key market trend
- Need for improved security standards
Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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