Middle East and Africa Cheque Scanner Market to Grow at a CAGR of 3.0% to reach US$ 65.64 Million from 2021 to 2028

The cheque scanner market in Middle East & Africa is expected to grow from US$ 53.21 million in 2021 to US$ 65.64 million by 2028; it is estimated to grow at a CAGR of 3.0% from 2021 to 2028.

Vendors need to improve and enhance their offerings to be relevant in the market. For instance, Digital Check introduced enhanced API, SecureLink 2.0, which contains enhanced functionality that is a major update to the original SecureLink by Digital Check. Securelink 2.0 offers user specific application that can be operated on a network, including PCs, handheld devices, and touchscreens. SecureLink is used by financial institutions and corporations to operate cheque scanner in aggregation with thin-client teller workstations, virtual desktop environments, and standalone kiosks. Similarly, RDM offers EC9600i series network cheque scanner that offers simple driverless one touch setup. The solution utilizes RDM’s Independence TM platform technology, an intelligent, self-contained, and secured network. This enables the scanner to connect to PC, Mac, mobile devices, and payment terminals within any operating system or browser directly via driverless USB or on a network via Ethernet, including thin clients such as Citrix. Like Digital Check and RDM, other vendors operating in the market also need to capture the opportunity of offering advance solution that are capable of solving check processing and clearance issues effectively. Banks and financial institution are looking for solutions that require lower set up/implementation cost and time and can be easily operated, which is driving the growth of the Middle East & Africa cheque scanner market.

The Middle East & Africa cheque scanner market is majorly affected by disruptions in the supply chain. The shutdown of country borders for international travel led to disturbances in the supply chains of several components and parts in 2020. Moreover, the demand for cheque scanners has decreased in the region. This has resulted in a loss of business among the cheque scanner manufacturers and distributors offering their products and systems to banks and financial institutions. However, a rise in the focus on the commercialization of the remote deposit model to make cheque payment easier and quick in the UAE is likely to provide significant opportunities to the cheque scanner market players in the coming years.

Middle East & Africa Cheque Scanner Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Cheque Scanner Market Segmentation      

Middle East & Africa Cheque Scanner Market – By Type

• Single-Feed Check Scanner
• Multi-Feed Check Scanner

Middle East & Africa Cheque Scanner Market – By Application

• Banks
• Enterprises and Financial Institutions

Middle East & Africa Cheque Scanner Market– By Country

• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Middle East & Africa Cheque Scanner Market-Companies Mentioned

• Canon Inc.
• Digital Check
• Eastman Kodak Company
• Epson
• MagTek Inc
• NCR Corporation

Middle East and Africa Cheque Scanner Report Scope