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(Wireless-NewsWire.Com, March 22, 2018 ) Global Wireless POS Terminal Market By Type (mPOS, Smart POS, Portable Countertop & PIN Pad), Component (POS Software & Services, Hardware), Vertical (Healthcare, Transportation, Sports & Entertainment, Retail, Hospitality), and Regional Market Size, Status and Forecast to 2025
Wireless Point-Of-Sale Terminals are ideal for any environment where you have to bring the point of payment to the customer and accept debit and credit payments quickly and securely from almost any location. Benefits of Wireless Point-Of-Sale Terminals include - easy to get started, quicker transactions, unit portability, financial savings, and increase sales.
Some of the major players operating in the wireless POS terminal market are Ingenico (France), Verifone (US), First Data (US), PAX Global Technology (Hong Kong), NCR Corporation (US), Diebold Nixdorf (US), BBPOS (Hong Kong), Elavon (US), Castles Technology (Taiwan), Winpos (Finland), BITEL (Korea), Cegid Group (France), Squirrel Systems (Canada), Newland Payment Technology (China), and CITIXSYS AMERICAS (US).
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POS terminals have several advantages including efficient maintenance of customer database, fast processing of bills, efficient inventory management, improved maintenance of customer loyalty programs, and management of special discount offerings.
In terms of terminal types, it is expected that in the years to come the fixed POS terminal will lead as against mobile type POS terminals. The fixed terminal accounted for a whopping 94% aftermarket in 2016. In the years to come however, it is anticipated that the adoption rate of mobile and wireless POS terminals will also increase on account of the ease of use, cost-effectiveness, and mobility as compared to the conventional POS which are fixed. The demand for mobile POS terminals is expected to increase among small and medium-sized businesses on account of the rising affordability. The growing penetration of smartphones and tablets is a key factor behind the growth of the mobile and wireless type POS terminals.
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Market Dynamics:
1. Market Drivers
1.1 Declining cost of wireless technology and increase in their reliability
1.2 Adoption of wireless technology in mobile handsets and wearables
1.3 Rising usage of europay, mastercard, and visa cards
1.4 Increasing adoption of wireless payment terminal by retailers
1.5 Rise in cashless transactions
2. Market Restraints
2.1 Concerns for security related to wireless technology
2.2 High maintenance cost of wireless POS systems
2.3 Poor adoption of wireless POS terminals
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