(11 November 2009 – Global) A global report by IMS suggests that the number of contactless-enabled points of sale will grow six times faster than the EFTPOS market, increasing the number of acceptance points to 12.5 million by the end of 2013.John Devlin, research director, IMS, said that after a downward blip in late 2008 and the first half of 2009, the overall market is now returning to growth.
Mr Devlin added that the retail and hospitality sectors that have been hardest hit are now showing signs that the market bottomed out earlier this year.
Companies that have managed the economic downturn well are starting to invest in new technologies rather than just replacing essential POS equipment, Mr Devlin commented.
Mr Devlin also highlights that contactless specialists are seeing greater demand for their readers in a growing number of markets, as banks and card vendors move to issue contactless cards as standard.