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mPOS Terminal Market Share

Report ID: GMI464
Published Date: Jun 2024
Report Format: PDF

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mPOS Terminal Market Share

Ingenico Group, VeriFone Systems, Inc., and Square, Inc. dominate the market with around 10% of the market share. Square, Inc. is known for its comprehensive suite of financial services and innovative payment solutions. Square initially gained traction with Square Reader, a small, portable card reader that transformed smartphones and tablets into payment terminals. Since then, Square has expanded its offerings to include a range of mPOS devices such as the Square Terminal and Square Register, catering primarily to small and medium-sized businesses (SMBs) across various industries including retail, food services, and professional services.

VeriFone Systems, Inc. has been a provider of secure electronic payment solutions. Specializing in hardware-based mPOS terminals and payment processing technologies, VeriFone serves a global customer base across retail, hospitality, transportation, and financial services industries. The company offers a wide range of mPOS products including countertop terminals, mobile terminals, and integrated POS systems, designed to support various payment methods such as EMV chip cards, contactless payments, and mobile wallets. VeriFone is recognized for its robust security features and compliance with industry standards like PCI-DSS.

mPOS Terminal Market Companies

Major players operating in the mPOS terminal industry are:

Diebold Nixdorf
Epicor Software Corporation
Ingenico Group
Micros Systems, Inc.
NCR Corporation
NEC Corporation
Panasonic Corporation
PAX Technology
Square, Inc.
VeriFone Systems, Inc.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of mPOS terminal reached USD 40.2 billion in 2023 and is set to witness 9% CAGR between 2024 and 2032, led by the expansion of digital wallets and fintech services.

The handheld segment held 45% of the mPOS terminal industry share in 2023, owing to increasing adoption handheld mPOS terminals in emerging markets driven by cashless initiatives.

Asia Pacific market is expected to reach USD 36 billion by 2032, driven by rapid digital payment adoption and government-backed cashless transaction initiatives.

Diebold Nixdorf, Epicor Software Corporation, Ingenico Group, Micros Systems, Inc., NCR Corporation, NEC Corporation, Panasonic Corporation, PAX Technology, Square, Inc., and VeriFone Systems, Inc.