June 17, 2021
Technology

Juniper Research: Point-of-Sale Transaction Values to Exceed $17.3 Trillion Globally by 2026, as Emerging Smart Features Drive Adoption

BASINGSTOKE, England–()–A new study by Juniper Research has found the total value of transactions processed by POS terminals will exceed $17.3 trillion in 2026, from $14.8 trillion in 2021; growing 28%. The growth is driven by a continually evolving payment processing landscape in which cash plays a reduced role. The report found POS vendors must ensure they support omnichannel retail business models and are prepared to compete with alternative payment methods such as QR code payments.

The pandemic and increased cashless currencies bring challenges that POS vendors must manage, with retail moving online and enabling contactless processing. The report recommends that POS vendors must integrate smart capabilities, including stock management and data analytics to their terminals, to maximise the value of their platforms to end users.

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