The payment market continues to grow as cash transactions migrate to digital payments.
London, 12 October 2017 — Aite Group’s latest report, Evolution of the Point-of-Sale Terminal: Survival of the Smartest, explores how mobile solutions are redefining the merchant’s POS. Merchants want to be able to serve customers, sell products, and take payments anywhere in the store. In response, innovative companies have introduced POS solutions that can be easily downloaded from an app store and run on a commercially available tablet or smartphone.
“The payment industry will benefit overall from the wider choice in payment acceptance, as it will drive the growth of electronic transactions,” says Aite Group senior analyst Ron van Wezel.” POS terminals can now be used and serviced in places where this was difficult before. The shift to software-based POS solutions will require market players—terminal manufacturers, acquirers and payment service providers, software developers, and card companies—to adapt their strategies,” he says.
This Aite Group report analyzes the transformation of the POS terminal space. Co-authored by Payment Redesign’s Eric de Putter and Aite Group’s Ron van Wezel, this report is based on conversations held globally with executives of leading acquirers, terminal manufacturers, payment companies, and industry bodies.