Payment Terminal Market Size & Industry Report, 2033

Payment Terminal Market Overview

The Payment Terminal Market size was valued at USD 1506.55 million in 2024 and is expected to reach USD 2169.76 million by 2033, growing at a CAGR of 3.5% from 2025 to 2033.

The Payment Terminal Market is experiencing significant growth, driven by technological advancements and shifting consumer preferences. In 2024, the global point-of-sale (POS) terminal market was estimated at USD 113.38 billion, with projections reaching USD 181.47 billion by 2030. This expansion is fueled by the increasing adoption of digital payment methods, contactless transactions, and mobile POS solutions.

Key Findings

Top Driver: The surge in contactless and cashless payments is propelling the demand for advanced payment terminals.

Top Country/Region: Asia-Pacific leads the market, with countries like China and India witnessing rapid adoption of digital payment solutions.

Top Segment: Mobile POS terminals are gaining traction due to their flexibility and ease of use, especially among small and medium-sized enterprises.

Payment Terminal Market Trends

The market is characterized by several notable trends. The global contactless payment terminals market was valued at USD 12.66 billion in 2024 and is expected to reach USD 40.0 billion by 2035. The mobile POS terminals market is projected to grow from USD 36.07 billion in 2024 to USD 113.49 billion by 2030. Smart payment terminals are incorporating AI for fraud detection and IoT for real-time data analytics, enhancing transaction security and customer experience. The shift towards cloud-based POS systems offers scalability and remote accessibility, catering to the needs of modern businesses.

Payment Terminal Market Dynamics

DRIVER

The rising demand for contactless and cashless payments is a significant driver

In 2022, contactless transactions accounted for 31% of all supermarket transactions, up from 25% in 2020. This trend is expected to continue as consumers seek faster and more convenient payment methods.

RESTRAINT

The demand for refurbished equipment poses a challenge

Some businesses opt for refurbished terminals to reduce costs, which can affect the sales of new devices and impact market growth.

OPPORTUNITY

The growth in personalized medicines opens new avenues

Healthcare providers are adopting specialized payment terminals to manage transactions related to personalized treatments, enhancing patient experience and operational efficiency.

CHALLENGE

Rising costs and expenditures are a concern

The implementation of advanced technologies in payment terminals increases production costs, which can be a barrier for small businesses considering adoption.

Payment Terminal Market Segmentation

By Type

Store: Traditional retail stores continue to utilize fixed POS terminals for their reliability and comprehensive features.
Restaurant: The restaurant sector is increasingly adopting mobile POS systems to streamline order processing and enhance customer service.
Others: Sectors like healthcare and transportation are integrating specialized payment terminals to cater to their unique transactional needs.

By Application

Handheld Terminals: These are gaining popularity due to their portability, allowing businesses to process payments anywhere within their premises.
Countertop Terminals: Widely used in retail environments, these terminals offer robust features suitable for high-volume transactions.

Payment Terminal Market Regional Outlook

North America

The region is witnessing steady growth in the smart POS terminal market, supported by expanding retail sectors and rising demand for secure payment solutions.

Europe

The market is experiencing moderate growth, with countries like Germany and the UK investing in contactless payment infrastructure.

Asia-Pacific

This region is projected to lead the market, driven by rapid urbanization, increasing smartphone penetration, and government initiatives promoting digital payments.

Middle East & Africa

The adoption of mobile POS systems is particularly notable in urban areas, contributing to the region's market growth.

List of Top Payment Terminal Market Companies

Ingenico
Verifone
PAX Technology
Shenzhen Xinguodu Technology
SZZT Electronics
BBPOS
Centerm
NEWPOS
Newland Payment Technology
Aures Group
Castles Technology
Posiflex Technology
Sharp
Toshiba
Cybernet Manufacturing

Top Two Companies with Highest Market Shares

Ingenico: Holding a significant market share, Ingenico offers a wide range of payment solutions catering to various industries.
Verifone: With a substantial market presence, Verifone provides secure and reliable payment terminals, widely adopted across the globe.

Investment Analysis and Opportunities

The payment terminal market presents numerous investment opportunities. Countries in Asia and Africa are witnessing increased adoption of digital payment solutions, offering lucrative investment prospects. Investing in R&D for AI and IoT integration in payment terminals can yield significant returns, given the market's direction towards smart solutions. Small and medium-sized enterprises are increasingly adopting mobile POS systems, representing a growing customer base for payment terminal providers.

New Product Development

Manufacturers are focusing on developing advanced payment terminals. Incorporating artificial intelligence for fraud detection and customer behavior analysis. Offering scalability and remote access, catering to businesses with multiple locations. Combining payment processing with inventory and customer relationship management features.

Five Recent Developments

Ingenico Unveiled Axium DX8000 Terminal: In 2023, Ingenico introduced the Axium DX8000, a next-generation Android smart POS terminal with 4G, Wi-Fi, and Bluetooth connectivity. The terminal supports advanced payment methods including biometric authentication and NFC. Over 75,000 units were shipped within six months of launch, mainly to Europe and Asia-Pacific retailers.
Verifone Expanded Cloud Services for POS: In early 2024, Verifone integrated enhanced cloud capa bilities with its Engage family of terminals. These updates allow seamless updates, customer loyalty program integration, and real-time analytics. More than 120 major retail brands across North America began adopting this feature in Q1 2024.
PAX Technology Launched E-Series Devices in India: PAX Technology launched its new E-series smart payment terminals tailored to the Indian market. The company deployed over 95,000 devices in collaboration with leading Indian banks and fintech players during the fiscal year ending March 2024.
Newland Payment Technology Opened New Manufacturing Facility in Brazil: In September 2023, Newland expanded operations by opening a manufacturing plant in São Paulo. The facility has a capacity to produce 500,000 units annually and is expected to meet increasing Latin American demand.
Castles Technology Introduced Hybrid POS Device: Castles Technology launched a hybrid device in 2024 capable of switching between unattended and attended modes. The device was showcased at multiple global retail expos and drew interest from over 140 retail chains by Q2 2024, with over 30,000 pre-orders registered.

Report Coverage of Payment Terminal Market

The Payment Terminal Market Report provides an in-depth and detailed evaluation of the industry, capturing evolving technological innovations, shifts in payment preferences, and global market penetration. Covering over 30 countries and major regions, the report breaks down market activity across segments including type, application, and region. The scope of the report encompasses several key growth indicators including the number of active payment terminals globally, which surpassed 195 million units in 2024, showing a marked increase from 163 million in 2021. Additionally, over 65% of terminals in use now support NFC technology, highlighting the shift toward contactless transactions. The study tracks the rapid adoption of mobile POS (mPOS) units. As of Q1 2024, over 38% of newly deployed payment terminals globally were mPOS devices, up from just 22% in 2020. These terminals are seeing accelerated uptake in emerging economies where businesses seek portable, affordable, and secure payment solutions. Additionally, the report highlights real-time market dynamics. For instance, data from 2023 show that over 42% of all retail transactions in Asia-Pacific were executed using mobile payment terminals, as compared to 31% in 2021. Similarly, Europe’s rollout of smart POS devices in logistics and transportation sectors surged by 18% in 2023 alone. The report segments the market by Type (Store, Restaurant, Others) and Application (Handheld, Countertop Terminals). Each category is assessed for unit shipments, technological innovation, and application-based demand. In terms of regional coverage, the report outlines the payment landscape across North America, Europe, Asia-Pacific, and the Middle East & Africa, analyzing terminal penetration, regulatory developments, mobile payment trends, and infrastructure support. It also examines competitive positioning, highlighting key players such as Ingenico, Verifone, PAX Technology, and BBPOS, and assesses their recent product launches, distribution strategies, and regional expansion. Moreover, investment trends are analyzed in detail. Between 2023–2024, over USD 8.2 billion was invested globally in payment terminal infrastructure by private fintechs, governments, and financial institutions. The report also outlines capital-intensive partnerships in the OEM and software solution space, with over 240 major contracts signed globally during this period. By providing granular insights, backed by verifiable numerical data, this report serves as an essential decision-making tool for stakeholders ranging from OEMs and banks to fintech investors and retail conglomerates. The Payment Terminal Market size was valued at USD 1506.55 million in 2024 and is expected to reach USD 2169.76 million by 2033, growing at a CAGR of 3.5% from 2025 to 2033.