Wireless POS terminals are payment terminals that enable cashless payments through credit or debit cards. A wireless POS terminal operates through four stages. First, the device scans the information presented by the customer’s credit or debit card. Second, the device checks the customer’s bank balance to see if the account has the requisite amount to complete the ongoing transaction. Third, the device carries out the transaction by transferring the requisite amount to the seller’s account. Lastly, the device makes a digital note of the transaction and provides a receipt to the customer.
The major players operating in the global wireless POS terminal market are also profiled in detail in the report in order to give readers an accurate overview of the competitive landscape of the market. The impact of the COVID-19 pandemic on the global wireless POS terminal market is also studied in the market.
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The growing demand for cashless payment in developed regions is likely to be a major driver for the global wireless POS terminal market over the forecast period. Cashless payment presents several advantages, including the prime advantage of the higher convenience compared to cash, as the user only has to carry a card with them, rather than having to carry wads of cash. The widespread availability of digital networks to complete cashless transactions has also been a major driver for the wireless POS terminal market in developed regions in particular. This is likely to remain a major driver for the global wireless POS terminal market over the forecast period.
Which Top Market Participants are Consider for the highest Wireless Pos Terminal market share?
Leading players in the global wireless POS terminal market include BBPOS, Squirrel Systems, Diebold Nixdorf, NCR Corporation, PAX Global Technology, Touchbistro, CITIXSYS AMERICAS, Newland Payment Technology, Castles Technology, Elavon, Moneris, Cegid Group, BITEL, Winpos, First Data, Verifone, and Ingenico.
The global wireless POS terminal market is segmented on the basis of component, type, end user, and region.
By component, the global wireless POS terminal market is segmented into hardware, software, and services. The hardware segment is sub-segmented into payment terminals, accessories, and workstations. The payment terminals segment is further sub-segmented into smartphones and tablets associated with credit or debit card readers. The accessories segment is further segmented into monitors, receipt printers, barcode scanners, wireless barcode scanners, PIN pads, cash drawers, physical inventory scanners, and tag printers. The software segment is further sub-segmented into content management, asset management, configuration solutions, and others. The services segment is further sub-segmented into merchant services, installation services, transaction management services, and others.
By type, the global wireless POS terminal market is segmented into portable countertop and pin pad, mPOS, smart POS, and others.
By end use, the global wireless POS terminal market is segmented into retail and ecommerce, hospitality, medical and healthcare, automotive and transportation, sports and entertainment, and others.
Wireless Pos Terminal Market By Geography
The Middle East and Africa
North America is likely to dominate the global wireless POS terminal market over the forecast period due to the widespread availability of the digital infrastructure needed to operate wireless POS terminals. The U.S. and Canada are among the leading national markets for wireless POS terminals.