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/2022 POS machine industry development status and prospect analysis
2022 POS machine industry development status and prospect analysis
January 07, 2022

The POS machine is a multifunctional terminal, which is installed at the credit card merchants and acceptance points. It can realize the automatic transfer of electronic funds through the computer network. It has functions such as consumption support, pre-authorization, balance inquiry, and transfer. It is safe to use, Fast and reliable.


Along with the continuous improvement of domestic consumption level and consumption awareness, new types of POS machines have been continuously launched on the market.


In 2019, the transaction value of UnionPay network transfer was 189.4 trillion RMB, a year-on-year increase of 54.3%. Up to now, the UnionPay acceptance network has been extended to 178 countries and regions around the world, with more than 56 million merchants accepted, more than 130 million UnionPay cards issued overseas, and 4 million overseas merchants accept UnionPay mobile QuickPass or UnionPay QR codes. In addition, the cumulative number of registered users of the Cloud QuickPass app has exceeded 240 million.


In recent years, traditional POS machines and personal payment terminals have significantly reduced products that have passed UnionPay card acceptance terminal security certification, while smart POS and new cloud QuickPass acceptance terminals have gradually increased. This can also be seen in the rapid development of smart POS machine products. Global POS shipments reached 103.6 million in 2018, an increase of 39% over 2017, and this number increased by 29.1 million units year-on-year.



From the data of global catering digitalization, whether it is desktop POS machines or handheld POS machines, product shipments are in the rising stage, which also reflects the rising demand of users. Among them, global shipments of desktop POS machines are expected to exceed 3 million in 2023, and global shipments of handheld POS machines are expected to exceed 7 million in 2023.


Chart: 2017-2019 POS machine industry export statistics


Years

Total exportSET

Total exportUSD

Average export priceUSD

2017

7888317

775,291,382

$98.28/SET

2018

8936008

913,152,794

102.19/SET

2019

11277783

1154,113,124

$102.34/SET


The rapid economic development has brought about the continued prosperity of the payment industry, and as China's influence in the Asia-Pacific region and even in global trade continues to increase, more and more domestic and foreign merchants will use POS machines made in China for transaction settlement. The market demand for POS machines still has a lot of room for growth. With the continuous improvement of domestic consumption levels and the enhancement of consumer awareness, new POS machines are constantly appearing in the market.


As mobile payment has basically been fully popularized, there is still a lot of room for development of POS machines. In the future, with the continuous growth of downstream demand, the market scale of the POS industry will continue to expand.

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