This Contactless Payment Terminals market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Contactless Payment Terminals market.
Contactless payments through a PIN terminal and a chip have become a preferred payment method by the customers. The embedded chip and antenna in the contactless payment system enables customers to pay by waving their cards or mobiles over a reader machine at the POS (point of sale) terminal. In such payment terminals, the transaction speed is twice of the transaction speed of the conventional transaction methods such as cash, credit or debit card purchase. This can be attributed to the fact that any time-consuming pin verification and signature is not required while transacting with the contactless payment terminals. The different stakeholders of the contactless payment terminals market are the chip providers, financial institutions, retailers, and PVC card manufacturers, etc. The contactless payment terminals for vending provide easy integration of merchant services and solutions. It also allows unattended-market operators to accept mobile payments and credit cards including Android Pay and Apple Pay for their varied uses, such as air pumps, car wash, gas stations, kiosks and vending machines.
Contactless Payment Terminals Market: Market Dynamics
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Contactless Payment Terminals Market: Market Segmentation
Contactless Payment Terminals Market: Segmentation Overview
Riocard is a smart card system used mainly for the transportation system in the Rio de Janerio state of Brazil. The technology used by card is MIFARE and it’s used as a contactless card. Similarly, in the United Kingdom, the Oyster cards are used as payment cards or smart cards for quicker and easier payments. Customers can use oyster cards instead of paper tickets for travel payment. The contactless payment terminal systems enable services in any environment such as major events, festivals, carnivals, concerts, etc. The manufacturers of contactless payment terminal are trying to ensure secure payments through state-of-the-art security and encryption.
Contactless Payment Terminals Market: Regional Outlook
The global contactless payment terminalmarket geographically is segmented as North America, Eastern Europe, Western Europe, Latin America, Asia-Pacific excluding Japan, Japan, and Middle East & Africa. North America and Europe hold a significant market share of contactless payment terminals market owing to the increase in AI (artificial intelligence) and IoT (Internet of Things) applications. Furthermore, the increase in R & D activities related to electronics and especially payment devices, wherein contactless payment terminals are useful integrated systems, aids in boosting the growth of contactless payment terminals market in the region. The market in the APEJ region is more inclined towards growing demand for contactless payment terminals because of the increasing awareness about the benefits of cashless transactions and need to work on the queuing theory.
Contactless Payment Terminals Market: Prominent Players
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The global contactless payment terminals market can be segmented on the basis of technology it uses to operate:
- Radio-Frequency Identification (RFID)
- Near Field Communication (NFC)
- Carrier based mobile
It can also be segmented on the mode of payment used:
- Credit card
- Debit card
- Account based
- Stored value
- Smart cards
It can be segmented on the basis of applications:
- Travel & Tourism
- Information Technology
- Public Transport
Some of the prominent players in the global contactless payment terminals market are:
- Heartland Payment Systems Inc.,
- Wirecard AG
- Castles Technology
- On Track Innovations LTD
- iZettle AB
- Clover Network Inc,
- internalDrive, Inc.
- Ingenico Group
- Chip & PIN Solutions Ltd
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia-Pacific (China, India, ASEAN, Australia & New Zealand)
- The Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.