The EMV (Europay, MasterCard and Visa) POS terminal market in the U.S., is on exciting curve with great promises, different strategies, conventional EMV POS terminals, multiple value-added services, new technologies, advanced POS terminals and more.
According to Technavio, Verifone and Ingenico are leading the market in the US, with Verifone
recording the largest market share in 2015.
The firm also revealed that, these well-established
players are adopting new technologies to gain a competitive edge, and different
strategies with the common goal to respectively dominate the market.
Mobile EMV POS terminal vendors such as Square and PayAnywhere provide
terminals at a much lower cost, and charge less from merchants; and large and
medium enterprises still prefer conventional terminals as they offer faster
card transactions and are easier to operate.
Among emerging trends identified by Technavio, and expected to propel the
growth of the EVM POS terminal market in the US, we have:
- Shift toward cloud-based solutions (require fewer IT resources and reduce associated costs and complexities and more).
- Big data management (more back-end software to the cloud, customer information and product data across multiple platforms and more).
- Need for effective information management (multiple value-added services using card transaction data).