POS Terminals and Wireless M2M
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The world is continuously shifting from coin and paper-based payments such as cash and cheques to electronic forms such as payment cards and mobile phone payments. As a part of this shift, POS terminals are becoming more and more common in all parts of the world. The global installed base of POS terminals grew by 11 percent to 75 million units in 2014. Market growth is primarily fuelled by the increasing adoption of electronic payments in emerging markets. Developed markets are relatively saturated in terms of POS terminal adoption.
Cellular connectivity has become a very popular option for POS terminals and was incorporated in around one third of the devices shipped in 2014. The wireless technology has an important role in facilitating the global adoption of electronic payments, as it enables the rollout of POS terminals to many new market segments and parts of the world where the fixed line telecommunications infrastructure is less developed. The installed base of cellular POS terminals reached 20.8 million in 2014. Berg Insight forecasts a CAGR of 7.2 percent between 2014 and 2019, resulting in a total of 39.2 million cellular POS terminals at the end of the forecast period.
The market for NFC-ready POS terminals continued to display strong momentum in 2014 with annual shipments reaching an estimated 9.5 million units worldwide. The attach rate for NFC was highest in EU28+2 and North America, where 80 percent and 75 percent of the POS terminals shipped featured NFC respectively. NFC was also a very popular feature in many other major markets worldwide, including Brazil, Turkey and China. While the installed base of NFC-ready POS terminals has grown quickly, many of terminals do still not have the contactless features turned on. Berg Insight estimates that approximately 9.0 million POS terminals accepted contactless payments with Visa payWave, MasterCard PayPass or UnionPay Quickpass at the end of 2014. This marks a major increase from 2012 when just 2.6 million POS terminals worldwide had the contactless features enabled.