NFC is a wireless data transfer method that enables data to be exchanged in close proximity by smartphones, laptops, tablets, and other devices. Via mobile wallets such as Apple Pay, Android Pay, as well as contactless cards, NFC technology powers contactless payments. The rising number of the supermarket, specialty store, and hypermarket are raising demand for the NFC POS terminal across them. US, China, Germany, France, and Japan are five major countries contributing to the highest revenue share in the NFC POS terminal market.
Some of the factors stimulating the market for NFC POS terminal include an increasing preference for NFC-compatible smartphones for payment among global population. While in the mid-2000s, Near Field Communication or NFC was developed jointly by Philips and Sony, over the years, the technology has evolved for different use cases. With 3.4 billion active smartphones in the world today, mobile penetration is at an all-time high. There are 2 billion computers, mostly tablets that can be NFC-enabled. Increased penetration of NFC-based mobile handsets is one of the main factors contributing to the growth of the NFC POS terminal industry. The increasing use of NFC-enabled smartphones is likely to expand the use of NFC POS terminals for payments and digital exchange in the transportation, retail, and healthcare industries.
CASTLES TECHNOLOGY CO., LTD, VERIFONE, INC., FISERV, INC. – PROMINENT MARKET PARTICIPANTS IN NFC POS TERMINAL MARKET
Castles Technology Co., Ltd, VeriFone, Inc., Fiserv, Inc. are some of the key market players operating in the global NFC POS terminal market. The listing of key players is derived by considering multiple factors such as overall revenue, current NFC POS terminal product portfolio, geographical reach, new product launches, market initiatives, investment in technology upgradation, partnerships, and other market related activities. In addition to these players, there are several other important players operating in NFC POS terminal ecosystems which were studies analyzed during the course of this market research study, such as, Equinox Payments, First Data Corp, Heartland Payment Systems, Paz Technology Ltd., Ingenico Sa, Nec Technology, Szzt Electronics Co., Ltd., and Verifone Systems, among others. Further, in 2021, First Data processing platform using UniTerm device interface software and Monetra’s TranSafe payment gateway. Further, in 2020, Castles Technology Co., Ltd one of the leading POS provides announced and JR’s POS Depot announced an official distribution agreement. Under the agreement, the JR’s POS Depot, South Florida-based distributor will promote and resell Castles Technology Co., Ltd products to its customer base.
Most of the market initiatives were observed in North American and Europe region, which have a high potential of market-related products, solutions, and services. Few of the important market initiatives from the industry are mentioned below:
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Year |
News |
Region |
|
2019 |
Equinox Payments LLC announced that their Luxe 6200m and Luxe 8500i payment terminals and its Remote Key Injection (RKI) solution were approved by PCI Security Standards Council. |
North America |
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2019 |
Verifone, a provider of self-service devices, POS terminals and modular payment components acquired Zivelo, the companies confirmed to Kiosk Marketplace. |
North America |
