A Look into the Rising Trend of POS Terminal Shipments According to Nilson Report 2016

Introduction:

In the world of payments, POS terminals have become an essential component in conducting transactions. For years, these terminals have been in use in various industries and have witnessed significant growth. According to the Nilson Report 2016, there has been a rise in POS terminal shipments worldwide. In this blog post, we will take a close look at this trend and what it means.

Trend Analysis:

As per the Nilson Report 2016, global POS terminal shipments increased by 13.5% in 2015-2016. The total number of shipments was 129.3 million. This increase was largely driven by emerging markets, including India, China, and Southeast Asia. The report further states that by 2020, the number of POS terminals worldwide is expected to reach 484 million.

The growth of POS terminal usage can be attributed to various factors. One of the significant drivers is the rise of e-commerce. With more people using online stores, retailers have to keep up with the changing trends by making it easier for customers to make online payments. Installing POS terminals at store locations offers an efficient way for retailers to accept payments both offline and online. Additionally, the use of cards over cash is also a significant factor since most customers now prefer making cashless payments.

The report also highlights that the growth in POS terminal shipments is not limited to traditional brick-and-mortar stores. Mobile POS terminals have emerged as an ideal choice for both small business owners and retailers. These terminals are compact, portable, and offer a cost-effective solution for accepting payments.

The Future of POS Terminal Shipments:

The trend of increased POS terminal shipments is expected to continue in the coming years. With emerging economies adopting global standards for payment processing and acceptance, we can expect to see further growth in POS terminals. Additionally, the use of mobile POS terminals is expected to increase, especially in developing countries where accessing traditional banking services is difficult.

The need to be compliant with the Payment Card Industry Data Security Standards (PCI DSS) is also driving the growth of POS terminal shipments. Retailers and businesses must adhere to these standards to ensure the security of customer data. As a result, there has been a steady increase in the deployment of EMV-enabled terminals.

Conclusion:

In conclusion, POS terminal shipments are on the rise globally, and the trend is expected to continue. The rise can be attributed to various factors such as the increase in e-commerce, a shift towards cashless payments, and the expanding use of mobile POS terminals. With heightened concerns around data security, businesses and retailers are adopting standards for accepting and processing payments, leading to a rise in EMV-enabled terminals. The use of POS terminals is no longer limited to traditional brick-and-mortar stores, and the emergence of mobile POS terminals is offering a cost-effective solution for accepting payments.