SoftPOS Market Outlook:
SoftPOS Market size was over USD 421.63 million in 2025 and is projected to reach USD 2.93 billion by 2035, witnessing around 21.4% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of softPOS is evaluated at USD 502.84 million.
The demand for softPOS continues to be driven at a steady pace as businesses look for cost-effective and flexible payment means. The ability to transform smartphones into POS terminals eliminates the need for traditional hardware and increases adoption for both small retailers and large enterprises. The softPOS market is driven by an increasing penetration of smartphones and consumer demand for contactless transactions. One important development was the NCR VOYIX CORPORATION’s introduction of a complete softPOS suite in August 2023 to ease the integration of omnichannel payment experiences for merchants of all sizes. This expansion mirrors the industry trend of softPOS integration across verticals, which is a key part of the retail and service landscape in modern times.
The softPOS market is witnessing growth due to government support toward digital payments and contactless technologies. In July 2024, the government of India announced to support small businesses in adopting digital payment solutions like softPOS systems with a USD 1.2 billion initiative. This initiative fits into broader projects aimed at improving financial inclusion and reducing cash transactions, which naturally provide a springboard for the entry of market participants. Furthermore, countries in Southeast Asia and Africa are also adapting the softPOS technologies for rollout, as they realize the ability of the softPOS technologies to not just enhance the local economies but also simplify business processes.
