26 March 2017
visit nextgenbanking.co.uk

77% of POS terminals to be NFC-ready by 2020

16 November 2016  |  6064 views  |  0 NFC 4

With contactless payments becoming ubiquitous in many parts of the world, more than 16 million NFC-ready POS terminals will ship this year, according to Berg Insight.

Almost three out of every five POS terminals shipped this year include NFC. In Europe and North America more than 90% of new units can accept tap and pay, while the technology is also popular in other major markets such as China and Brazil.

Berg Insight projects the global installed base of NFC-ready POS terminals will grow at a compound annual growth rate of 17.9% from 45 million units in 2016 to 86.9 million units in 2020 - 77% of the world's terminals.

The firm has also seen a boost in the number of NFC-enabled terminals that are actually activated. By the middle of this year, around 15 million units could accept contactless payments from Visa, Mastercard or UnionPay.

A major factor affecting the market is the rise of mPOS terminals. The attach rate for NFC in the mPOS segment is anticipated to reach 45% in 2016 as terminal shipments reach 8.2 million units.

Johan Fagerberg, senior analyst, Berg Insight, says: "The growth is driven by the increase in mPOS terminal shipments from 18.0 million units in 2016 to 42.3 million units in 2020, as well as by a growth in the attach rate from 45 percent to 77 percent."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Contactless card payments becoming 'second-nature' to EU consumers

Contactless card payments becoming 'second-nature' to EU consumers

10 November 2016  |  10716 views  |  0 comments | 24 tweets | 38 linkedin
Apple Pay set for Japan launch thanks to Felica support

Apple Pay set for Japan launch thanks to Felica support

07 September 2016  |  4207 views  |  0 comments | 5 tweets | 8 linkedin
UK contactless card use overtakes cheques

UK contactless card use overtakes cheques

01 September 2016  |  9065 views  |  1 comments | 20 tweets | 28 linkedin
Android Pay launches in the UK

Android Pay launches in the UK

18 May 2016  |  7462 views  |  2 comments | 22 tweets | 20 linkedin

Related blogs

Create a blog about this story (membership required)
visit abe-eba.euVisit capgemini.com

Top topics

Most viewed Most shared
French retailer Carrefour launches online bank accountFrench retailer Carrefour launches online...
57367 views comments | 16 tweets | 36 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
9712 views comments | 43 tweets | 26 linkedin
Can banks really win in the payments business of the future? – new Finextra reportCan banks really win in the payments busin...
8939 views comments | 23 tweets | 37 linkedin
MAS to roll out national KYC utility for SingaporeMAS to roll out national KYC utility for S...
7930 views comments | 19 tweets | 28 linkedin
SecureKey taps IBM to put identity on the blockchainSecureKey taps IBM to put identity on the...
7377 views comments | 22 tweets | 15 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job