Home Future payments Global Virtual Payment (POS) Terminals Market Report 2022: Growing Prevalence of Digital Payment Methods in Driving Sector – ResearchAndMarkets.com

Global Virtual Payment (POS) Terminals Market Report 2022: Growing Prevalence of Digital Payment Methods in Driving Sector – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Global Virtual Payment Terminals (POS) Market Report 2022” report has been added to from ResearchAndMarkets.com offer.

The global virtual payment terminal (POS) market is expected to grow from $7.94 billion in 2021 to $10.59 billion in 2022 at a compound annual growth rate (CAGR) of 33.4%. The Virtual Payment Terminal (POS) market is expected to reach $34.71 billion in 2026 with a CAGR of 34.6%.

North America was the largest region in the Virtual Payment Terminal (POS) market in 2021. North America is expected to be the fastest growing region during the forecast period. Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing prevalence of digital payment methods is driving the virtual payment terminal (POS) market. The digital revolution has increased access to and use of financial services globally, changing the way people send and receive payments, borrow money and save money.

In addition to the global spread of formal financial institutions, the COVID-19 outbreak has triggered financial inclusion and led to a significant increase in digital payments. Virtual payment terminals (POS) facilitate digital payments and manage payments by phone, mail, fax, email or in person. For example, in 2021, according to McKinsey’s 2021 Digital Payments Consumer Survey, digital payments grew by 12% over the 2020-2021 period. Thus, the increase in digital payments is expected to drive the demand for virtual payment terminals (POS) during the forecast period.

Technological advancement is a key trend gaining popularity in the virtual payment terminal (POS) market. Biometric payment system is a widely used technology for virtual payment terminals (POS). Biometric payment is a point-of-sale (POS) technology that identifies users and authorizes withdrawals from bank accounts using biometric authentication based on physical characteristics. In May 2022, Mastercard, a global payments and technology company, launched a biometric payment program.

Biometric Payment Program Participants allow customers to easily enroll in their in-store or home biometric payment services through a merchant or identity provider application. Once registered, there is no need to slow down the queue by rummaging through luggage or pockets. Customers simply check the bill, smile at the camera, or wave their palms above the reader to make a payment. The new technology gives customers the freedom to choose their preferred payment method while ensuring a fast and secure payment experience.

Reasons to buy

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Scope

Covered markets:

1) By Solution: Software Platform; Professional services

2) By industry: Retail trade; Warehouse; Hospitality; Consumer electronics; Food and drinks; Health care; Entertainment; Other Industries

Main topics covered:

1. Summary

2. Features of Virtual Payment Terminals (POS) Market

3. Virtual Payment Terminal (POS) Market Trends and Strategies

4. Impact of COVID-19 on virtual payment terminals (POS)

5. Virtual Payment Terminal (POS) Market Size and Growth

6. Virtual Payment Terminal (POS) Market Segmentation

7. Regional and Country Analysis of Virtual Payment Terminals (POS) Market

8. Asia-Pacific Virtual Payment Terminal (POS) Market

9. China Virtual Payment Terminal (POS) Market

10. Virtual Payment Terminal (POS) Market in India

11. Japan Virtual Payment Terminal (POS) Market

12. Australia Virtual Payment Terminal (POS) Market

13. Virtual Payment Terminal (POS) Market in Indonesia

14. South Korea Virtual Payment Terminal (POS) Market

15. Western Europe Virtual Payment Terminal (POS) Market

16. UK virtual payment terminal (POS) market

17. Germany Virtual Payment Terminal (POS) Market

18. France virtual payment terminals (POS) market

19. Eastern Europe Virtual Payment Terminal (POS) Market

20. Russian virtual payment terminal (POS) market

21. North America Virtual Payment Terminals (POS) Market

22. Virtual Payment Terminal (POS) Market in United States

23. South America Virtual Payment Terminals (POS) Market

24. Brazil Virtual Payment Terminals (POS) Market

25. Middle East Virtual Payment Terminals (POS) Market

26. Africa Virtual Payment Terminals (POS) Market

27. Virtual Payment Terminal (POS) Market Competitive Landscape and Company Profiles

28. Key Mergers and Acquisitions in Virtual Payment Terminals (POS) Market

29. Virtual Payment Terminal (POS) Market Future Outlook and Potential Analysis

30. Appendix

Companies cited

  • Castle Technology

  • Diebold Nixdorf, Incorporated

  • NCR Company

  • Panasonic Company

  • PAX technology

For more information on this report, visit https://www.researchandmarkets.com/r/jcxdzk