Virtual Payment (POS) Terminals Market Expected to Achieve 35.5% CAGR by 2029: Growth Forecast Insights

Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.

How Large Will the Virtual Payment (POS) Terminals Market Size By 2025?
In recent years, the market size for virtual payment (POS) terminals has experienced explosive growth. The market is projected to expand from a worth of $17.85 billion in 2024 to $23.48 billion in 2025, with a compound annual growth rate (CAGR) of 31.5%. This significant growth in the past can be credited to factors such as competitive market conditions and differentiation, the adoption of mobile wallets, the progression of the retail industry, increased consumer demand for convenience, and alterations in regulations.

How Big Is the Virtual Payment (POS) Terminals Market Size Expected to Grow by 2029?
The market size of virtual payment (POS) terminals is anticipated to undergo remarkable growth in the upcoming years, reaching $79.1 billion in 2029 with a compound annual growth rate (CAGR) of 35.5%. The predicted growth during this period can be credited to fast-paced tech advancements, eco-friendly concerns, and sustainability efforts, subscription-oriented models and service improvements, globalization and cross-border interactions, and stringent security and legislative procedures. The forecast period will witness significant trends including collaborations and integrations, subscription and service-oriented models, globalization and cross-border financial transfers, progressing technology, and product innovations.

View the full report here:
https://www.thebusinessresearchcompany.com/report/virtual-payment-pos-terminals-global-market-report

Which Key Market Drivers Powering Virtual Payment (POS) Terminals Market Expansion and Growth?
The virtual payment (POS) terminals market is being propelled by the growing acceptance of digital modes of payment. The digital revolution has effectively altered the global engagement with financial services, including remitting and receiving payments, lending, and saving. The wider reach of formal financial entities, coupled with the COVID-19 outbreak, has stimulated financial inclusion and triggered a significant increase in digital payments. Virtual payment (POS) terminals play a critical role in facilitating digital remittances and overseeing transactions via phone, mail, fax, email, or face to face. As per McKinsey's Digital Payments Consumer Survey in 2022, digital payments saw a 12% surge during the 2022-2023 span. Hence, the surge in digital remittances is anticipated to stimulate the demand for virtual payment (POS) terminals in the upcoming period.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7195&type=smp

Which Fast-Growing Trends Are Poised to Disrupt the Virtual Payment (POS) Terminals Market?
The increasing use of Technological Advancement is a significant trend in the virtual payment (POS) terminals market. The wide adoption of biometric payment systems, a type of technology that uses a user's physical characteristics to authenticate and authorize bank account withdrawals, is one of these advancements. In May 2022, the global payments and technology company, Mastercard, introduced a Biometric Checkout Program. This program allows customers to conveniently sign up for biometric checkout services either in-store or at home using an app provided by a merchant or identity provider. With this service, the need for customers to search through their luggage or pockets in line at checkout is eliminated. Instead, customers can validate their bills and make payments by merely smiling at the camera or waving their hands over the reader. This technology provides customers with the liberty to select their preferred payment method while ensuring a speedy and secure checkout procedure.

What Are the Emerging Segments in the Virtual Payment (POS) Terminals Market?
The virtual payment (POS) terminals market covered in this report is segmented -

1) By Solution: Software Platform, Professional Services
2) By Industry: Retail, Warehouse, Hospitality, Consumer Electronics, Food and Beverages, Healthcare, Entertainment, Other Industries

Subsegments:
1) By Software Platform: Payment Processing Software, Integration Software, Security Software
2) By Professional Services: Consulting Services, Implementation Services, Support And Maintenance Services

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=7195&type=smp

Who Are the Global Leaders in the Virtual Payment (POS) Terminals Market?
Major companies operating in the virtual payment (POS) terminals market include Castles Technology Co. Ltd., Diebold Nixdorf Incorporated, NCR Corporation, Panasonic Corporation, PAX Technology Limited, Square Inc., Stripe Inc., Adyen N. V., Global Payments Inc., First Data Corporation, Verifone Systems Inc., Ingenico Group SA, Fujian Newland Payment Technology Co Ltd., BBPOS Limited, BitPay Inc., Shift4 Payments LLC, PayU Group, Paytm Mobile Solutions Private Limited, Mswipe Technologies Private Limited, Payzone UK Limited, InovioPay LLC, Amazon. com Inc., VeriFone Inc., iZettle AB, SumUp Inc., Shopify Inc., Lightspeed POS Inc., Revel Systems Inc.

Which are the Top Profitable Regional Markets for the Virtual Payment (POS) Terminals Industry?
North America was the largest region in the virtual payment (POS) terminals market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual payment (POS) terminals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7195

This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Learn More About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.