NFC-ready POS terminals reached 24.7 mln in 2017, report shows

Monday 16 July 2018 09:29 CET | News

The market for NFC-ready point-of-sale terminals reached an estimated 24.7 million units globally in 2017, according to a Berg Insight report.

The attach rate for NFC was highest in the EU and North America, where 90% and 88% respectively of the POS terminals shipped featured NFC. NFC was also a popular feature in other important markets worldwide, including Brazil, Turkey and China.

The report also uncovers the fact that almost three of every five POS terminals shipped in 2017 included NFC. Berg Insight projects the global installed base of NFC-ready POS terminals will grow at a CAGR of 15.6% from 54.5 million units in 2017 to 112.3 million units in 2022. As a result, more than 78% of the worlds POS terminals will be NFC-ready in 2022, up from 50% in 2017.

While the installed base of NFC-ready POS terminals has grown, the contactless technology has in many cases not been activated. This is now changing and Berg Insight estimates approximately 30 million POS terminals accepted contactless payments with Visa payWave, Mastercard PayPass or UnionPay Quickpass at the end of 2017, according to Mobile Payments Today.

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Keywords: NFC, POS terminal, Berg Insight, UnionPay Quickpass, MasterCard PayPass, Visa payWave
Countries: World

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