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Pay Card Reader Market to Witness an Outstanding Growth by 2021

05-29-2017 01:51 PM CET | IT, New Media & Software

Press release from: Persistence Market Research

Pay Card Reader Market to Witness an Outstanding Growth by 2021

The global payment industry is enormously competitive environment with IC, POS terminal, pay card reader and smart card competing for profitable high capacity business in a market. The pay card reader is a machine that has the potential to read debit and credit cards, either via a magnetic band or chip and pin technology. Pay card readers comprises of a pin that links to a mobile device via audio jack. Some of the pay card readers can also be allied wirelessly either by utilizing NFC technology or bluetooth. The pay card reader has showcased an upliftment in its growth over the past few years all across the globe and is anticipated to expand at a significant CAGR during the forecast period. It has been noticed that on-going switching to Euro pay, MasterCard and Visa and other chip based standards are escalating the market further with diffusion of smart acceptance devices growing every year. Rising awareness about the technology is likely to bolster the growth of the market from 2016-2022.

A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/9776

Some of the major factors driving the growth of global pay card reader include rising penetration of tablets and smartphones all across the globe. Smartphones market have observed robust growth and is anticipated to escalate at a significant pace over the next few years.

To View TOC of this report is available upon request @
http://www.persistencemarketresearch.com/toc/9776
Apart from this, the recent transformation from cash and cheque to electronic and mobile payments will expand the growth of global pay card reader market in future. Apart from this, favorable government policies, rising number of smartphone base as well as large number of micro and small merchants is anticipated to intensify the growth of global pay card reader market during the projected period.

About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

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