|By Business Wire||
|April 28, 2014 02:09 PM EDT||
Research and Markets (http://www.researchandmarkets.com/research/x8d4jn/us_point_of_sale) has announced the addition of the "US Point of Sale Transformation - Changing Regulation, Technology and Growth Forecasts" report to their offering.
NFC terminals in the US are expected to reach 55% penetration by the end of 2018, while the number of mobile POS terminals is expected to reach 7.7 million by 2020. As of 2013 year end, 33 major retailers among the top 100 retailers have adopted NFC (Pilot/Initiated roll out) and are serving end consumers through their own solutions or through MasterCard, ISIS, and Google wallet solution. This indicates a preliminary trend towards adopting NFC as a payment technology. At the same time, multiple retailers are lining up to adopt NFC in 2014.
The report details out the current penetration of POS terminals in the U.S. across various merchant establishment categories. The POS terminals are further segmented by technology adopted by them such as NFC, EMV, Magstripe, Mobile POS, among others.
The report also projects the total demand for POS terminals till 2020. Installed base of POS terminals by technology has been projected till 2020.
The US retail and hospitality sector has about 20 million merchant establishments (Business location of a company). About 33% of these merchants are medium to large merchants with more than 1 employee, while the other 67% are micro merchants with no employees. However, only about 35% of these 20 million merchants have the capability to accept electronic payments through point of sale terminals.
The installed base of point of sale terminals in the U.S. is estimated at 13.9 million terminals, of which around 1.7 million terminals are Mobile POS. The average number of POS terminals per store is estimated at 2 per store which accept electronic payments. Among the store formats, the Supermarkets & Grocery Store followed by Convenience Stores & Gasoline Stations are amongst the largest adopters of POS terminals (% penetration of POS). The micro merchant's category has the least adoption rate when it comes to point of sale adoption.
EMV POS adoption by merchant categories varies drastically. At the end of 2013, less than 3% of these POS terminals were EMV enabled. The supermarkets and grocery stores that are capable of investing in technology are the ones leading in the adoption of EMV POS with penetration more than 20%. The Target and Neiman Marcus breaches are expected to stimulate the adoption of EMV. On the other hand, gasoline station merchants, who enjoy a buffer time of two additional years for the liability shift, have the lowest adoption rate of EMV.
By 2018, not all POS terminals in the U.S. will be EMV compliant. UK, with fewer than a million POS terminals, took nearly 7 years for EMV migration to reach close to 100%. UK had missed the liability deadline when it comes to EMV migration, even with few banks and stakeholders in the system.
Key Topics Covered:
1. Installed Base of POS terminals in the U.S.
2. POS adoption rate by Merchant category and Average POS per Merchant
3. Future Outlook of EMV POS terminals in the U.S. (2013 - 2020)
4. Future Outlook of NFC POS terminals in the U.S. (2013 - 2020)
5. Future Outlook of Mobile POS terminals in the U.S. (2013 - 2020)
6. Future Outlook of Magstripe POS terminals in the U.S. (2013 - 2020)
8. Future of US Payments Industry - Merchant Adoption
9. Market Size of magstripe POS terminals (2014 to 2020)
10. Market Size of EMV POS terminals (2014 to 2020)
11. Market Size of NFC POS terminals (2014 to 2020)
12. Market Size of Mobile POS terminals (2014 to 2020)
For more information visit http://www.researchandmarkets.com/research/x8d4jn/us_point_of_sale.
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