#Factoftheweek
Cellular POS (point-of-sale) terminals. NFC-ready POS terminals. mPOS terminals.
Let’s review.
Wireless technology has a very big role in electronic payments.
It helps bring POS terminals to many markets where fixed line telecommunications infrastructure is not available.
In 2024, the installed base of cellular POS terminals reached 164.8 million.
By 2028, it will surpass 229 million.
That is a growth rate of roughly 8.6%.
In contrast, let’s consider the global installed base of NFC-ready POS terminals.
In 2024, this was 284.8 million units.
In 2028, it will be 380 million units.
This is a growth rate of roughly 7.5%.
As a result, more than 96% of the world’s POS terminals will be NFC-ready in 2028, up from 89% in 2024.
Finally, let’s look at mPOS terminals, which uses consumer-oriented mobile devices such as tablets and smartphones that function as a point-of-sale terminal to facilitate payment card transactions through a connection to a card-accepting reader.
In 2024, this was 119 million units.
The installed base of NFC-ready mPOS terminals grew to 90.4 million units during the same year as NFC penetration reached 76% worldwide.
In 2028, the installed base of NFC-ready mPOS terminals will be 138.3 million units.
This is a growth rate of 11.2%.
All in all, POS terminals are going up, up, up, and certainly not away.
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