- The key vendors in the POS terminals market in China 2015-2019 are PAX Global Technology, SZZT, VeriFone, and Ingenico
London, 06 October 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the POS terminals market in China 2015-2019. Vendors are incorporating several security technologies such as signature-capturing devices and biometric sensors into POS terminals to secure payment transactions. POS terminals are being incorporated with additional features such as touchscreens, RFID, and bar code scanners to enhance user experience. The POS terminals market in China is expected to grow steadily during the period 2015-2019, posting a CAGR of 17.8% in terms of shipments.
The demand for POS terminals is increasing because of the growth in payment services and the usage of debit and credit cards for transactions in various sectors. POS terminal penetration among SMEs such as small hotels, takeaways, and restaurants is steadily increasing in China. The growing demand for contactless payment using cellphones is expected to increase the demand for POS terminals. Vendors in the Chinese market are making efforts to deploy the necessary technology for the acceptance of mobile payments using NFC technology.
“Wireless communication devices are being developed to facilitate mobility in conducting POS transactions and to enable faster transactions and easier checkout,” says Faisal Ghaus, Vice President of Technavio Research.
“The use of these devices could be extended to similar applications such as outdoor arenas, pizza delivery, home delivery of goods by retailers, and pay-at-the-table in restaurants.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the POS Terminals Market in China 2015-2019, please send an e-mail to media@TechNavio.com
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