The preference for digital payments has taken precedence over cash transactions in almost all parts of the world. People prefer digital payments due to enhanced security, ease of use, and convenience. Consequently, more and more vendors are demanding POS solutions to cater to such rising demands. The POS market has seen some innovations, especially in terms of IoT technologies, contactless payments, integration of digital signage, and the growth of omnichannel capabilities. Key suppliers of the POS solutions are prioritizing network security and adopting new authentication techniques to tackle the increasing number cybercrimes.
Here are the top POS terminal vendors operating in this market:
Ingenico Group
Founded in 1980, it is one of the world leaders in seamless payment solutions. It outsourced the manufacturing of POS solutions in 2006 and crossed €1 billion in revenue in the year 2011. Ingenico launched products to allow merchants to accept Bitcoin as a payment method via its terminals in January 2015.
Verifone Systems Inc.
Headquartered in San Jose, California, Verifone Systems POS solutions processes a range of payment types including smart cards, gift cards, contactless cards, stored-value card, electronic bill payment, and EBT. The company has developed deep partnerships with Bartels-Langness Handelsgesellschaft mbh & Co., Volkswagen Bank, Mastercard, and Eigen Developments Ltd.
PAX Global Technology Ltd.
PAX Global Technology Ltd., headquartered in China, is a major supplier of electronic payment terminals. PAX Global Technology has installed over 17 million POS terminals worldwide as of 2017. They also offer a mix of Android and Linux based payment terminal products.
SZZT Electronics Co. Ltd.
SZZT Electronics Co was founded in 1993 and after more than 20 years in the industry has an employee strength of more than 1,400 and a registered capital of RMB 209 million. The company has partnered with Ascom, FUJITSU, Eastman Kodak Company, and Hitachi Ltd. to innovate their portfolio of POS solutions.
Fujian Newland Payment Technology Co. Ltd
Fujian Newland Payment Technology has a diversified product portfolio in POS solutions including Intelligent multi-media POS, professional financial POS, and m-POS. The company also maintains sound partnerships with TenPay, Lakala, 99bill, AliPay, and other third-party payment companies.
Read more about the top POS terminal supplier along with pricing trends, procurement best practices, supply market landscape, negotiation strategies, and procurement insights in SpendEdge’s upcoming report on the global stainless steel market.
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