Published on : Apr 28, 2016
ALBANY, New York, April 28, 2016: According to the report, the U.S. EMV POS terminals market is expected to expand at a healthy CAGR of 20.38% in the period between 2016 and 2020, owing to a rise in the number of people using EMV cards. The report covers the present scenario and also the growth prospects of the EMV POS terminal market in the U.S. during the period from 2016 to 2020.
EMV stands for Europay, Mastercard, and Visa, which is a technical standard for payment terminals, and POS stands for point of sale, which is the time and place where retail transactions are carried out. EMV POS is thus a combination of systems that enable quick and easy checkouts for customers at sales or retail outlets. An EMV POS system consists of a computer, POS software, cash drawer, barcode scanner, receipt printer, weight scale, and credit and debit card readers. EMV POS terminals facilitate cashless transactions and improve the shopping experience of the customers by reducing the time taken for payment processing. They assist retail sales management to manage information such as inventory, cash flow, and customer information. EMV POS terminals thus help companies obtain centralized information regarding the sales of various products.
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EMV POS terminals eliminate the need to update cash registers manually on purchases and transactions done by customers, which is why they are highly in demand as these terminals make the work of sales management personnel accurate and easy. The growing trend of making payments through cards has boosted the EMV POS terminal market. EMV POS terminals are in great demand as they allow for safe and secure transactions by generating a dynamic code every time a transaction is carried out, thus making it impossible for fraudsters to decode or retrieve sensitive customer information. A shift towards cloud-based solutions is the emerging trend in the EMV POS terminal market and is likely to impact the market positively. However, the growing e-commerce transactions are a restraint for the EMV POS terminal market.
For the purpose of detailed study, the market is segmented on the basis of end user into retail and hospitality. Furthermore, the report contains exhibits regarding scenarios of lost or stolen card fraud liability shift and scenarios of counterfeit fraud liability shift. Market topology for the retail sector and analysis of the payment methods used by consumers in the U.S. for the period from 2015 to 2020 have been studied.
Key players in the EMV POS terminals market profiled in the report are: Ingenico, PAX Technology, SZZT, Equinox Payments, and Verifone.
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