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Analysed: The future of point of sales (POS) systems 10 July 2025 by Payments Intelligence What is this article about? How modern point-of-sale (POS) systems are evolving into cloud-native, AI-driven platforms central to retail operations. Why is it important? Tokenisation is growing rapidly, from US$3.53
. “Over 1.5bn contactless point of sale (POS) payments, valued at 26.7 billion, were made in shops, restaurants and other retail outlets in 2024,” the organisation says.
The payment vertical continues to dominate, with 48 companies and a share of 21.8%. It’s followed by point-of-sale (POS) terminals with 24 companies and a share of 11%; cryptocurrency and blockchain with 22 companies and a share of 10%; and peer-to-peer (P2P) lending with 21 companies and a share of 9.5%.
According to Worldpay’s Global Payments Report 2025, digital wallets now lead e-commerce transactions and are the second most-used payment method for point-of-sale (POS) transactions, accounting for 39% of e-commerce transactions, and 29% of transaction value in 2024.
Nexi Group , the European PayTech, has collaborated with WeChat Pay to enable Swiss merchants to accept payments at the point of sale (POS) via the WeChat Pay app. The post Nexi Group Enables Swiss Merchants to Accept Consumer Payments via WeChat Pay appeared first on FF News | Fintech Finance.
Today, Visa announced that Tap to Phone a technology that turns a smartphone into a point-of-sale (POS) device – has experienced a 200% increase globally over the past year, supporting millions of sellers of all sizes worldwide. In the UK, Tap to Phone adoption is even higher, at a growth rate of 320% [1].
Fintech innovations Point-of-Sale (POS) Innovations Affordable POS solutions like Square and Yoco allow SMEs to accept card payments without traditional banking infrastructure. As technology continues to evolve, fintech companies will develop more sophisticated tools to meet the needs of small businesses.
Tap to Phone, the technology that turns smartphones into a point-of-sale (POS) device, has seen a 200 per cent increase across the globe in the last year, according to new stats from payments giant Visa. It empowers microsellers and SMBs worldwide to accept contactless payments using only an NFC-enabled smartphone.
However, the decline has since stabilised and in 2024, 10 per cent of point-of-sale (POS) transactions were made using cash (accounting for 128billion of in-store transactions). At POS, digital wallets have seen remarkable growth, increasing from just one per cent to 18 per cent of spend during the same period.
Table of Contents Voices from the industry: Insights into the 2024 payments landscape In 2024, we witnessed a convergence between consumer and B2B payments, driven by the rise of BNPL adoption, AI-powered fraud detection, and the continued digitalisation of payment platforms.
Contactless payments continue their rapid adoption, projected to account for more than 60% of in-store purchases. Despite rising interest rates, consumer spending remains strong, as shown by a 4% increase in holiday sales and a record-high reliance on credit, particularly among millennials. credit card payments surpassed $10.6
We look forward to continuing our collaboration to bring advanced payment solutions to the Bangladesh market.” ” Mutual Trust Bank currently boasts a network of 120 branches, 306 ATMs and over 4000 Point of Sales (POS) machines.
This brought near-field communication (NFC) technology to in-store payments, changing the point of sale (POS) sector. However, there are considerable developments in both Europe and North America, with Apple Pay, Google Pay, and PayPal continuing to expand, with increasing merchant acceptance.
Credit cards are a staple in the wallets of consumers today, and they will undoubtedly be a payment method of choice for years to come, particularly as the adoption of mobile and contactless payments continues to grow. In fact, ResearchAndMarkets.com forecasts the global credit card payment market to grow to $762.16
The report, developed by the FPC QR Code Interface Work Group, highlights critical usability factors affecting adoption, including legacy POS system limitations, integration complexities, scanning device compatibility, and network dependency.
They require secure systems like point-of-sale (POS) terminals , online checkout gateways, or mobile payment solutions to process payments. Payment Processor: ISO/PayFac : The payment processor handles the sales, support, onboarding, and sometimes technology for merchants, such as the payment terminals and payment gateway.
As digital payments continue to grow in popularity, a frictionless payment processing system is vital. Whereas point-of-sale (POS) systems are ideal for brick-and-mortar stores, enabling swift in-person payments. What is a merchant account?
Enterprises: Utilize integrated point-of-sale (POS) systems that connect with inventory, customer data, and analytics tools. Key findings include: Canada: 96% of SMBs continue to accept cash. Tend to opt for simpler, cost-effective devices that require minimal setup and maintenance. and Canada.
Tap to Pay on iPhone allows QuickBooks Payments* customers to access an easy way to accept in-person contactless payments from anywhere using an iPhone and the QuickBooks mobile or GoPayment iOS apps, without the need for an additional card reader or point-of-sale (POS) hardware.
In 2023, 27% of all point-of-sale (POS) payments were made using credit cards while 23% were made with debit cards. Interchange fees help mitigate the financial impact of these risks, ensuring cardholders can continue to access credit. This includes defaulted payments, operations risks, security breaches, and chargebacks.
said: “ E-commerce continues to grow at pace across Europe, and making payabl.’s is a leading financial technology provider, delivering end-to-end payment solutions across card acquiring, local payment methods, point-of-sale (POS) terminals, multi-currency business accounts, and card issuing.
Over the next year, 52 per cent of SMBs expect to upgrade their point of sale (POS) system to support mobile and contactless payments, with 47 per cent diversifying to include mobile POS terminals. SMBs continue to embrace e-commerce.
A new study from Tribe Payments , the pioneering digital payments and infrastructure orchestrator which specialises in issuer and acquirer processing, has revealed that 28% of merchants’ legacy in-person point of sale (POS) systems cannot support alternative payment methods like digital wallets and QR codes.
This strategic alliance also reflects EazyPay’s continued efforts to drive innovation and foster collaboration within the regional fintech ecosystem. We are confident that EazyPay’s local expertise and strong infrastructure will help us achieve our shared goals and promote financial inclusivity in the Kingdom.”
While digital payments* dominate, with digital wallets set to account for 58% of all online spend by 2030, traditional methods continue to hold ground in a fragmented UK market. At POS, digital wallets have seen remarkable growth, increasing from just 1% to 18% of spend during the same period.
Martin Blessing , former CEO of Commerzbank , will continue as chairman of the board, guiding Unzer through its next stages of growth as the company helps European retailers accelerate their digital transformation. Agicap will use the Series C funds to continue investing in its product, people as well as growth initiatives.
4 Fintech Unicorns in Hong Kong Hong Kong continues to cement its role as a fintech powerhouse in Asia, blending its strong regulatory framework with an innovation-friendly environment. Its cloud-based platform supports over 140,000 merchants in 3,700 cities across India and Malaysia, with a strong focus on point-of-sale (PoS) transactions.
Embedding Trusted AI and continuous ID verification is critical to counter synthetic media threats. Data governance (32%) and regulation (31%) followed closely, indicating that firms continue to struggle with managing information effectively and navigating complex regulatory landscapes in their efforts to prevent financial crime.
EazyPay , a Bahraini fintech specialising in Point-of-Sale (POS) and online payment gateway acquiring services, is joining forces with Tamara , the leading provider of BNPL solutions in the GCC, to act as Tamara’s local acquirer.
State laws continued to regulate—or outright ban—surcharging, meaning merchants had to navigate both sets of rules before moving forward. Update your point-of-sale (POS) system. Your point-of-sale (POS)or eCommerce platform needs to support surcharges properly.
By leveraging TreviPays platform, HSBC is focusing on helping corporate customers enable sales and engage with new business buyers through receivables finance, invoice processing and management and risk mitigation.
We are Nigerias largest merchant acquirer, powering most of the countrys Point of Sale (POS) transactions. Financial inclusion and access to credit continue to be a hurdle for businesses especially SMEs and individuals in Nigeria. As well as our business solutions, we now offer services to individual consumers.
Clients only need to swipe a card at your point-of-sale (POS) terminal or enter their bank account number into your website (Initiation). Interconnecting 10,000 US banks and credit unions, this network continues to receive high demand. EFT reduces friction in the customer journey. In 2024, it processed 1.2
Point-of-sale (POS) systems are physical or digital payment infrastructures that enable enterprise businesses to facilitate and manage in-person or online transactions. Take the time to evaluate not only what works today, but what will continue to work as your business grows and your needs become more complex.
It continues to innovate in wealth management , tapping into Indias fast-growing middle-class aspirations. Pine Labs Pine Labs started as a point-of-sale (POS) solutions provider but has evolved into a major merchant commerce platform. Starting with mutual funds, it expanded into stocks, ETFs, fixed deposits, and more.
For example, in fintech, ISVs provide specialized payment processing solutions that integrate with point-of-sale (POS) systems, enhancing transaction security and efficiency. As cloud solutions continue to evolve, ISVs that prioritize cloud-native development will be better positioned to serve a broader, more global base.
Ensure that the processor you choose can work seamlessly with your existing point-of-sale (POS) system, eCommerce platform, or accounting software. Check for Tech Stack Compatibility Compatibility is key when integrating a payment processor into your business systems.
We see our customers still highly value in-person touchpoints and we are continuing to differentiate ourselves within the payments industry to be the market leader in omnichannel solutions. This product update is a testament to our ambition in the unified commerce space,” commented Derk Busser, VP Product – Payment Channels, at Adyen.
They’re also likely to continue to grow; the third quarter of 2020 showed that contactless penetration represented 41 percent of in-person purchases across the globe. Contactless payments are “future-proofed” in that they will let consumers access the security and convenience for long into the future, according to the release.
This partnership between Shiji and FreedomPay will provide a seamless, integrated payments solution to point-of-sale (POS) and property management systems (PMS).
2C2P, a full-suite payments platform, and MineSec have launched a new cloud-based Point of Sale (POS) payment app for Android devices in Singapore. Agnes Chua “At 2C2P, our commitment to continuous innovation ensures we remain at the forefront of the digital payment ecosystem.
The company said the setup “democratizes point-of-sale technology by turning an Android smartphone or tablet into an acceptance device — allowing businesses to accept contactless payments (and) minimizing the need to invest in hardware terminals or extra features.”
A new point of sale device optimised for speed, Revolut Terminal will allow businesses to accept payments in seconds and meet the growing demand for quick, reliable point-of-sale (POS) devices.
Continuous transaction controls (CTCs) have been introduced by numerous tax authorities to obtain business transactions in real-time or near real-time to improve the speed and accuracy of tax collection efforts. Continuous transaction controls (CTCs). The result?
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