POS Payment Market Expected to Reach $277917.4 Billion by 2032—Allied Market Research

POS Payment Market

Report Code : A10023

quote The digital shift of the payment sector is expected to boost the growth of POS payment market during the forecast. Further, the increasing technological advancements and increasing adoption of POS terminal is expected to drive the growth of the market in upcoming years. quote

Sourabh Ekre - Lead Analyst
BFSI at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       

According to a new report published by Allied Market Research, titled, “POS Payment Market," The pos payment market was valued at $96.6 trillion in 2022, and is estimated to reach $277917.4 billion by 2032, growing at a CAGR of 11.4% from 2023 to 2032.

A point-of-sale system is a collection of hardware and software that allows for digital and contactless payment processing by facilitating communication with other banks and payment processors. A point-of-sale system becomes crucial since, in the industrialized world, electronic payment methods are used for the majority of sales. For a price, commercial banks offer this point-of-sale service to their clients. Commercial banks charge the customer's account, send the settlement data at the conclusion of the business day, and quickly move the money to the merchant's bank account.

Different payment methods are used for making payments through a point-of-sale system. This can involve using conventional payment methods like cash and checks. The point-of-sale system includes credit cards with POS credit card reader, magnetic stripes, credit cards with integrated chips, clover payment, mobile wallets and digital payments using rapid response (QR) code. The point-of-sale system offers a wide variety of payment options and accelerates payment processing.  Globally, companies want an advanced point-of-sale system that they can strategically apply to expand their operations.

Commercial banks charge a transaction fee when funds are routed through their systems. Hence, if a merchant receives $100 via a point-of-sale system, they may receive only $98 after deducting a commission. The percentage of commission being taken becomes gradually smaller as the volume of transactions increases. Large-scale retailers pay a very small percentage of their revenues to commercial banks. Revenue from point-of-sale systems is a significant contributor to the overall revenue being generated by commercial banks. Currently, banks have started facing some competition from newer, more technologically advanced fintech companies. However, even to date, the business of point-of-sale systems is almost completely controlled by commercial banks.

Moreover, increasing adoption of contactless payment and rise in omnichannel retailing are two main significant factors driving the growth of POS payment market. Furthermore, high cost of implementation and maintenance and lack of standardization are two main significant restraints hampering the growth of POS payment market. Moreover, the rise in mobile wallet adoption is providing a significant opportunity for the growth of the market.

Key players in the POS payment market adopted partnership and collaboration as their key development strategy to sustain their growth in the market. For instance, in October 2023, Castles Technology partnered with Worldline to support Worldline’s deployment of android payment terminals and associated services including repair staging. Castles Technology is a global leader in payment industry and Worldline is a French multinational payment and transactional services company. The partnership is expected to strengthen Castles Technology position in the Europe, Middle East and Africa region. In addition, the strategy is expected to also drive Castles Technology growth in other regions by offering a variety of products and services globally.  Furthermore, in August 2023, Diebold Nixedorf, a global leader in retail store and checkout innovation collaborated with Thali, top book retailer in the German-speaking region to launch latest self-checkout solutions to improve customer service and assist stores. Planned through mid-2024, a total of 500 modular DN Series EASY eXpress systems for the German market, and more than 100 systems for Austria and Switzerland, is expected to expand checkout options for Thalia customers and allow employees to spend more time serving shoppers. In addition, Diebold Nixdorf is expected to leverage its extensive and experienced services technician network to provide on-site troubleshooting and support services for Thalia in all three countries namely Germany, Austria and Switzerland. Therefore, such strategies adopted by key players are expected to propel the POS payment market growth in the future.

The pandemic pushed digital payment adoption as users are increasingly searching for various contactless and touchless options to avoid the chances of virus transmission. This trend evolved the POS payment market as users and businesses started increasingly using digital wallets, mobile payments and other contactless payment techniques. Moreover, the COVID-19 pandemic prompted people to stay indoors and refrain from outside activities, which impacted the growth of the POS terminal industry. Additionally, many stores were able to maintain their operations owing to the e-commerce operations which increased the demand for POS payment industry.

Key Findings of the Study

  • Based on component, the hardware segment accounted for the highest POS payment market share, in terms of revenue in 2022.
  • Based on end user, the retail segment attained the highest market share in 2022.
  • Based on region, North America generated the highest revenue for POS payment market size in 2022. 

The key players in the POS payment market analysis include Acrelec, Aures Group, Hewlett Packard Development LLP, NCR Corporation, Oracle, Revel Systems, Diebold Nixdorf, Incorporated, Moneris, Pax Technology Limited, and Posiflex Technology. These players have adopted numerous strategies to increase their marketplace penetration and strengthen their position in the POS payment market trends.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com


For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample

First time buyer?
Check offers and discount on this report
To get this report

Click Here

quote POS Payment Market by Component (Hardware, Software, Service), by Type (Fixed POS, Mobile POS), by End User (Retail, Hospitality, Healthcare, Entertainment, Transportation, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

View Report

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.




To ensure high-level data integrity, accurate analysis, and impeccable forecasts


For complete satisfaction


On-demand customization of scope of the report to exactly meet your needs


Targeted market view to provide pertinent information and save time of readers


Featured Readings


Published Date Feb 2024

Plywood Market

Download Sample

Published Date Feb 2024

Torpedo Market

Download Sample

Buy Full Version
"POS Payment Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction


On-demand customization of the scope of the report to exactly meet your needs


Targeted market view to provide pertinent information and save the time of readers