Electronic Funds Transfer Point of Sale (EFTPOS) Terminals

Electronic Funds Transfer Point of Sale (EFTPOS) Terminals

Global Electronic Funds Transfer Point of Sale (EFTPOS) Terminals Market to Reach 94.7 Million Units by 2030

The global market for Electronic Funds Transfer Point of Sale (EFTPOS) Terminals estimated at 56.6 Million Units in the year 2023, is expected to reach 94.7 Million Units by 2030, growing at a CAGR of 7.6% over the analysis period 2023-2030.

The U.S. Market is Estimated at 14.8 Million Units While China is Forecast to Grow at 11.3% CAGR

The Electronic Funds Transfer Point of Sale (EFTPOS) Terminals market in the U.S. is estimated at 14.8 Million Units in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of 23.3 Million Units by the year 2030 trailing a CAGR of 11.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.9% and 6.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.

Global Electronic Funds Transfer Point of Sale (EFTPOS) Terminals Market - Key Trends and Drivers Summarized

Electronic Funds Transfer Point of Sale (EFTPOS) terminals have become an integral part of the retail and banking landscape, revolutionizing the way transactions are conducted. These devices, which enable electronic payment transactions directly at the point of sale, have undergone significant advancements since their inception. Initially designed to handle basic card swipes, modern EFTPOS terminals now incorporate a host of advanced features such as contactless payment capabilities, mobile payment integration, and biometric authentication. The shift towards EMV (Europay, MasterCard, and Visa) chip technology has played a critical role in enhancing transaction security, effectively reducing fraud risks associated with traditional magnetic stripe cards. Furthermore, the integration of sophisticated software applications allows EFTPOS terminals to perform a variety of functions beyond simple payment transactions. These include inventory management, customer loyalty programs, and detailed sales reporting, all of which streamline operational processes for merchants and improve overall business efficiency.

The rapid growth of digital payment systems and the booming e-commerce sector have further accelerated the global adoption of EFTPOS terminals. As consumers increasingly prefer cashless transactions for their convenience and enhanced security, the demand for advanced EFTPOS solutions continues to rise. Emerging markets are particularly experiencing swift growth, driven by governmental initiatives aimed at promoting digital payments and reducing cash dependency. For instance, countries such as India and China have implemented various programs to bolster their digital infrastructure, significantly boosting the deployment of EFTPOS terminals. Additionally, the advent of mobile POS (mPOS) systems, which enable smartphones and tablets to function as payment terminals, has broadened the accessibility of EFTPOS solutions. This innovation has particularly benefited smaller businesses, allowing them to offer flexible payment acceptance in diverse environments and enhancing their operational capabilities.

The growth in the EFTPOS terminal market is driven by several factors. The increasing penetration of smartphones and the widespread adoption of mobile payment technologies have significantly expanded the market for mPOS solutions, facilitating seamless transactions and improving the overall customer experience. The rise in online and contactless payments, a trend that has been accelerated by the COVID-19 pandemic, has further spurred the demand for terminals equipped with NFC (Near Field Communication) technology. Moreover, the integration of advanced security features, such as tokenization and end-to-end encryption, is essential in mitigating fraud risks and fostering greater consumer trust. Regulatory support and incentives for digital transactions in many countries also play a crucial role, encouraging businesses to adopt modern payment solutions. Furthermore, the growing trend of omnichannel retailing, which aims to integrate online and offline shopping experiences, is pushing retailers to upgrade their payment infrastructure, thereby driving the adoption of advanced EFTPOS terminals. This confluence of technological advancements, consumer behavior shifts, and supportive regulatory frameworks underscores the dynamic growth trajectory of the EFTPOS terminal market.

Select Competitors (Total 133 Featured) -

• Diebold Nixdorf, Inc.
• First Data Corporation
• Fujitsu Frontech Limited
• Keycorp Pty Limited
• NCR Corporation
• Olivetti S.p.A.
• Oracle Hospitality
• PAX Technology Limited
• Smartpay Ltd
• Spire Payments UK
• VeriFone Systems, Inc.
• Worldline

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.