The Saudi Arabian POS Terminal market was valued at USD 1.42 billion in the previous year and is expected to register a CAGR of 10.62 % during the forecast period to become USD 2.6 billion by the next five years. The POS terminal industry has grown significantly in recent years, owing to its capacity to provide a higher return on investment and ease of use. POS systems, which permit transactions from the key component of organizations in areas such as retail, hospitality, transportation, and banking, have grown in popularity in enterprises of all sizes over the years.
The Saudi Arabian POS Terminal Market is moderately competitive, with a considerable number of regional players. The companies leverage strategic collaborative initiatives, acquisitions, and product launches to increase market share and profitability.
In January 2023, Ingenico announced a strategic partnership with Klarna to facilitate the rollout of Klarna's flexible payment options at the point of sale utilizing PPaaS, Ingenico's innovative cloud Payments Platform as a Service.
In June 2022, Geidea, one of the leading fintech companies in Saudi Arabia, announced that it entered a strategic partnership with Nayifat, one of KSA's pioneers in the financing space. Through this collaboration, Geidea was expected to provide Nayifat's customers with a full suite of POS solutions. This will likely empower merchants to accept payments via numerous methods - including contactless cards and wearable devices through Geidea's POS terminals and Tap-on-Phone solutions.
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