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Research and Markets (http://www.researchandmarkets.com/research/6nvdwd/global_electronic) has announced the addition of the "Global Electronic Fund Transfer Point-of-sale (EFTPOS) Systems Market 2012-2016" report to their offering.
The analysts forecast the Global Electronic Fund Transfer Point-of-sale (EFTPOS) Systems market to grow at a CAGR of 8.4 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing adoption of Europay, MasterCard, and Visa cards. The Global EFTPOS Systems market has also been witnessing an increasing need to improve security standards. However, the slow adoption of EFTPOS systems due to high implementation cost could pose a challenge to the growth of this market.
The key vendors dominating this space include First Data Corp., Ingenico S. A., Pax Technology Ltd., and VeriFone Systems Inc.
The other vendors mentioned in this report are Atos Worldline, Fujitsu Ltd., International Business Machines Corp., Intellect International N.V., Keycorp Ltd., Micros Systems Inc., Motorola Inc., NCR Corp., Olivetti Tecnost S.p.A., ProvencoCadmus Group, Radiant Systems Inc., SZZT Electronics Co. Ltd., Thyron Systems Ltd., VeriFone Systems Inc., and Wincor Nixdorf AG.
Commenting on the report, an analyst from the team said: The increase in cyber threats across the globe has necessitated vendors to incorporate advanced security standards in their EFTPOS systems. Hence, vendors are incorporating several security technologies such as signature capturing devices and biometric sensors into the POS systems to secure the payment transactions. Furthermore, EFTPOS devices are being incorporated with additional features such as touch screens, radio frequency identification, and bar code scanners to enhance the user experience. In addition, the stringent regulations related to secure payments introduced by the governments of several countries will refine the technology to the greatest possible extent. Thus, the growing need for improved security standards is a new trend that is expected to have a positive influence on the growth of the market during the forecast period.
According to the report, one of the major drivers in this market is the increasing adoption of EMV cards. EMV is the international standard for card authentication and processing. Standardizing EFTPOS terminals according to the EMV standards will catalyze the infrastructure development required to facilitate the use of EMV cards. The infrastructure development will in turn foster the adoption of EFTPOS terminals. Hence, the demand for POS systems is expected to increase in the next few years.
Further, the report states that one of the key challenges in this market is the slow adoption rate of EFTPOS technology, especially in developing countries. The slow adoption rate is mainly attributed to the low significance that retailers attach to effective information management and data integration.
For more information visit http://www.researchandmarkets.com/research/6nvdwd/global_electronic
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