World EFT POS Terminals Market
This Frost & Sullivan research service titled World EFT POS Terminals Market provides a detailed market trend analysis, including drivers and restraints, for each geographic region, that is, North America, Latin America, Europe, the Middle East, and Africa (EMEA), and Asia Pacific. It also presents expansive unit shipment and revenue forecast analyses for each region. The study also provides competitive landscape and market shares of global companies. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: total Electronic Funds Transfer (EFT) terminal, magnetic stripe terminal, smart card terminal, wireless/mobile terminal, and IP-enabled terminal.
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Electronic Funds Transfer Point of Sale Terminals Market have Opportunities to Grow in Brazil, Russia, India, and China
The EFT point of sale (POS) terminals market has slowed down due to a combination of factors including market saturation, commoditization, and the weak global economic and credit markets. EFT POS terminals have reached their point of saturation in the United States and countries in western Europe. However, countries such as Brazil, Russia, India, and China (BRIC) and Mexico still provide opportunities for growth due to a limited penetration level. Europay, MasterCard, and VISA (EMV) deadline act as the main driver for the markets in these countries, pushing EFT POS terminal sales. “The adoption of electronic payment terminals, especially EMV-compliant terminals, is primarily driven by the urgency in curbing fraud, improving economic conditions, improving telecommunication and infrastructural capacities,” says the analyst of this research. Over the last few years, terminal manufacturers have been targeting markets in developing countries, namely China, Brazil, India, Mexico, Thailand, and so on, where sustained growth in the credit and debit card usage has established the critical mass necessary to push EMV-compatible terminals.
“In fact, backed by their respective governments, these countries have embarked on national campaigns to upgrade their payment infrastructure,” says the analyst. “The adoption of electronic payment terminals, especially EMV-compliant terminals, is primarily driven by the urgency in curbing fraud, improving economic conditions, improving telecommunication and infrastructural capacities.” Furthermore, there has been a considerable effort from local banks and card associations in these developing countries to step up the card usage, which has created the economies of scale needed to support the implementation of a variety of smart card solutions and services. Terminal growth is usually proportional to the growth of payment cards. Thus, vendors focus on developing countries for further expansion. However, the eroding margins due to turbulent effects of the current macroeconomic climate have resulted in lower terminal shipment to the United States, western Europe, and parts of Asia and Latin America. “Apart from lower sales volumes, the steep discounts offered by manufacturers to tide through the crisis erode profit margins further,” observes the analyst. “As the eventual recovery cycle is unpredictable, all participants in the POS industry are likely to continue to be negatively affected by the disruption in credit markets and macro-economies in the short term.”
Terminal vendors should focus on increasing the customer awareness about advances in technology such as processing speed, memory capacity, and software that is likely to help overcome the increasing complexity and ensure functionality of electronic payment systems at POS. In addition to payment, technology-enhanced POS terminals have the capability to perform concurrent applications such as loyalty, stored value, age identification, time and attendance tracking, and much more. “The secure integration of these applications with payment processing provides a comprehensive solution that allows institutions a means of competitive differentiation,” concludes the analyst. “It will allow retailers to provide their customers with a personalized shopping experience and drive demand for electronic payment systems that support multiple applications.”
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Small- and mid-sized retailers
- Multi-lane retailers
- Quick service restaurants
The following technologies are covered in this research:
- Wireless (Wi-Fi, Bluetooth, and so on)
- Smart cards
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