A virtual payment (POS) terminal can be defined as an advanced version or web-based version of the POS terminal. It can be connected to different processing networks including, Wi-Fi and LAN for capturing customer's bank account details to make transactions. A virtual POS enables sellers to process orders made by over phone, mail, or online. Similar to online retail purchases, a seller can enter payment data of customer on the web-based virtual POS terminal.
MARKET DYNAMICS
Increasing demand for cashless payment services is one of the significant driving factors for the virtual payment (POS) market. Further, the elimination of hardware and software requirements is accelerating the virtual payment (POS) market by the small businesses. Also, increasing government initiatives for digital payment systems, particularly in developing economies worldwide offers a prosperous opportunity to the virtual payment (POS) market growth. However, security concerns among customers' may hamper market growth.
MARKET SCOPE
The "Global Virtual Payment (POS) Market Analysis to 2028" is a specialized and in-depth study of the virtual payment (POS) industry with a special focus on the global market trend analysis. The report aims to provide an overview of virtual payment (POS) market with detailed market segmentation by component, end-user, and geography. The global virtual payment (POS) market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading virtual payment (POS) market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global virtual payment (POS) market is segmented into component and end-user. The market on the basis of component is bifurcated into solution and services. The virtual payment (POS) market by end-user is categorized into retail, hospitality, media and entertainment, healthcare, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global virtual payment (POS) market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). The virtual payment (POS) market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the virtual payment (POS) market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and SAM after evaluating political, economic, social and technological factors affecting the virtual payment (POS) market in these regions.
MARKET PLAYERS
The reports cover key developments in the Virtual Payment (POS) market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from Virtual Payment (POS) market are anticipated to lucrative growth opportunities in the future with the rising demand for Virtual Payment (POS) in the global market. Below mentioned is the list of few companies engaged in the Virtual Payment (POS) market.
The report also includes the profiles of key Virtual Payment (POS) companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Cisco Systems, Inc.
- Fujian Newland Payment Technology Co., Ltd.
- Ingenico Group
- NCR Corporation
- NEC Corporation
- Panasonic Corporation
- PAX Technology
- Shenzhen Xinguodu Technology Company Ltd.
- Squirrel Systems
- VeriFone Systems Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.