Smart Payment Terminals Market size is assessed at USD 60.7 billion in 2024 and is set to cross USD 255.3 billion by the end of 2037, witnessing more than 12.7% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of smart payment terminals is estimated at USD 68.4 billion.
Factors driving the market growth are contactless payment methods and consumer preference for speed and convenience which accelerates the demand for advanced payment terminals. Moreover, the ease of mobile wallets and contactless capabilities through NFC in smart payment terminals, along with regulation towards cashless transactions and increased development efforts around the customer experience in retail drives the market growth. Several interconnected factors have accounted for high growth in the smart payment terminals market there is an unprecedented increase in demand for digital payments wherein consumers invariably prefer ease and time savings over all other considerations compelling businesses to upgrade the payment infrastructure.
The growth in e-commerce, coupled with mobile payments creates demands for flexible solutions that allow for multiple transaction types. The technology used inside the terminal, contactless payments, and software integration increase its functionality, making it an attractive investment by retailers and thus it attracts investors. As well, the market will experience growth due to secure means of payment acquisition as the world provides more stringent emphasis on security and cybersecurity. All these factors are significant to bring revolution into the smart payment terminals market to move at a steady pace. For instance, the Seamless North Africa 2024 exhibition in New Cairo saw FEITIAN Technologies wrap up a successful showcase of its payment products and solutions among these were the F360, the first-round payment terminal with tap-on glass, EMV support on Android OS 13, and various modular accessories that make it ideal for small retailers and merchants.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
12.7% |
Base Year Market Size (2024) |
USD 60.7 billion |
Forecast Year Market Size (2037) |
USD 255.3 billion |
Regional Scope |
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Connectivity (Wired, Wireless)
The smart payment terminals market has witnessed substantial growth within its wireless segment driven by several key factors such as consumers' demand for greater convenience and efficiency in payment processes, and great acceptance of contactless payment methods such as NFC and mobile wallets. Owing to the rapid expansion of internet connectivity and mobile technology, the increasing trend of digitalization in the retail and hospitality sectors has challenged business concerns to invest in sophisticated payment solutions that would help them facilitate fast and secure transactions. Subsequently, the smart payment terminals market share of the wireless segment will lead the market followed by technological advancements and changes in consumers' preferences.
Type (Portable/Mobile Terminals, Fixed/Countertop Terminals, PIN Pad Terminals, mPOS Terminals, Smart POS Terminals)
The fixed/countertop terminals segment in smart payment terminals market is expected to dominate other type, primarily because the number of retail electronic payment systems in place has been increasing. This product provides business customers with an effective and robust method of processing all kinds of transactions while adding to the improved customer experience. Since they integrate multiple payment means, including contactless payments, they have become integral parts of merchant equipment coupled with advancement in technology-to-wider acceptance due to ease of use and better security features applied to fixed terminals, it is a very opportunistic segment. It addresses not only the insatiable growth demand for seamless payment solutions but also supports the broader trend of digitalization across the retail sector. The investment in infrastructure sustained, along with the changing pattern of consumer preferences, will likely drive the growth of fixed/countertop terminals during the next few years.
Our in-depth analysis of the global smart payment terminals market includes the following segments:
Type |
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Technology |
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End user |
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Connectivity |
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Payment Method |
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North America Market Statistics
North America in smart payment terminals market is estimated to account for more than 37.1% revenue share by the end of 2037. This region boasts of highly advanced electronic payment infrastructure, due to the high adoption of advanced technology for businesses and customers. Increased adoption of contactless payment solutions has presently strengthened the use of smart terminals further, thereby increasing the velocity and convenience of transactions. Additionally, the continually increasing demand for digital payment alternatives from consumers, of which e-commerce and mobile transactions form a steadily increasing part, further accelerates smart payment terminals market growth.
Moreover, the policy environment in North America that fosters innovation and competition among the providers of payment solutions ensures continuous innovation in terminal technology. Also, security, especially with the acceptance of EMV standards, adds consumer confidence and encourages a shift in moving from cash to digital channels. Value-added services such as the integration of analytical and customer engagement tools at smart terminals in this region have also been motivating factors for embracing improved payment systems. Altogether, all these factors fuel North America's positioning in the smart payment terminals market.
In the U.S., the market is driven by an increasing inclination toward contactless payment modes and stable security features which is fueling the market to grow by revolutionizing the consumer behavior pattern and also evolving its financial scenario. For instance, in June 2024, Square Inc. launched its latest designed mPOS reader that features a built-in display that allows merchants to showcase the transactions, accept signatures, and streamline the process.
Asia Pacific Market Analysis
Asia Pacific is recently witnessing a steady growth in smart payment terminals, owing to the key drivers for this spurt such as the penetration of smartphones and internet connectivity. Digital payments are being adopted heavily by consumers and businesses in this region. Also, there have been conducive regulations and initiatives promoted by the government in promoting cashless economies and the usage of electronic payment systems. In addition, growth in e-commerce sectors drives this demand with further improvement of innovative payment solutions that ultimately improve transaction speed and security. Improved technology through Near Field Communication and contactless payment features has made smart payment terminals gradually more accessible and user-friendly. Moreover, increased focus on customers and their experience through innovative payment options leads to higher investments in smart payment infrastructure. Taken together, these elements outline the potential of Asia Pacific as a dynamic smart payment terminals market and pivotal component in the overall global landscape of smart payment terminals.
The launch of improved technology solutions as part of the Global Smart City Suite, which includes NEC Mi-Command, NEC Mi-City, NEC Mi-Eye, and NEC Mi-WareSync, has been announced by NEC Corporation in India. These solutions are designed to ensure smooth operations between organizations and authorities, improve experiences for businesses, communities, and citizens, and give transparency and visibility for effective management and decision-making. The technological innovations developed by NEC have been central to India's infrastructure growth, improving the lives of the populace.
In the smart payment terminals market, companies also seek to benefit from the growing demand for seamless payment solutions. The companies strategically bolster their product portfolio through advancements in technology and software to become key players amidst the increasingly competitive landscape. To capture and expand the rising market share as the needs of consumers and businesses evolve, the companies focus on upgrading user experience and building and growing their respective service ecosystems. Some prominent companies are:
Author Credits: Abhishek Verma
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