Top Business Tech takes a closer look at the top six terminal vendors leading the way in the POS market today.
Following a new study by Juniper Research, POS Terminals: Device Innovation, Competitive Landscape & Market Forecasts 2021-2026, we take a closer look at the top six established leaders in the terminal vendor market. Juniper has ranked each company by service innovation, market investment and reached of services.
Fiserv maintains its stronghold in the terminal payments industry as it provides services to banks, thrifts, credit unions, securities broker-dealers, leasing and finance companies, and retailers. Founded in 1984, the Fortune 500 company today provides many products such as card machines on the go; in-store point of sale; online payments; business cash advance; financial institutions, and PCI DSS compliance.
According to its first-quarter 2021 GAAP Results, GAAP revenue for the company was flat at US$3.76bn in the first quarter of 2021 compared to the prior-year period, with acceptance segment revenue flat with the prior-year period, 3% growth in the fintech segment and 1% growth in the Payments segment.
- PAX Technology
PAX Technology is a manufacturer of Shenzhen-based technology manufacturer that provides payment terminals, PIN pads, and point of sale hardware and software. Founded in 2001, the company now has over 1800 employees and operates across five global regions: EMEA, LACIS, North America, China and the Asia Pacific. As of 2019, PAX Technology had over 45mn point of sale terminals deployed across 120 countries, and as of 2020, it had an annual turnover of HK$5,327.2mn.
Having dominated the online payments system marketplace in the West for the last two decades, PayPal is a household name in the UK and US, known in conjunction with its parent company eBay from 2002 to 2014. In 2014, it separated into its own publicly-traded company. Since then, the company has continued its exponential growth, and as of January 2021, PayPal became the first foreign operator with complete control of a payment platform in China. As of 2020, PayPal reported annual revenue of US$21.4bn.
Square is one of the younger companies to rank in this list. Founded in 2009, It has been traded as a public company on the New York Stock Exchange since November 2015. Square takes its name from its first product, the square reader, which has evolved from a read head directly wired, to a 3.5 mm audio jack to a chip card and contactless reader, with an Apple-compatible version with a lightning cable released in 2018. In addition to this product, it also introduced a Square Stand, compatible with leveraging an iPad as a POS; a Bluetooth-connected reader for Android and iOS devices; and a small standalone point-of-sale system, Square Register, designed for SMEs. As of 2020, Square’s market capitalisation is valued at over US$100bn.
French company Worldline has been around a little bit longer than its fellow ranking companies. Founded in 1970, a payment and transactional services company originally operated under the name Sligos before integrating with Atos to become Atos Worldline. Over the last 10 years, it had been through multiple mergers and requisitions and has been an independent company since 2019 when it diverted from Atos.
According to Worldline, its Q1 2021 revenue is fully in line with the company trajectory. Gilles Grapinet, Worldline’s Chairman and CEO, said: “Worldline showed strong resilience during the first quarter in the face of a third Covid wave of health restrictions in most of our key countries. In this challenging operating environment, Worldline showed strong resilience, with an organic decline limited to 9%, supported by the increased share of our online activities and the acceleration of cashless payment trend.”
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Verifone is an American multinational corporation founded in 1981 in Hawaii. Over the years, it has evolved its products according to how payment trends have shaped the industry. Today its products process a range of payment types, including signature and personal identification number (PIN)-based debit cards, credit cards, contactless/radio frequency identification cards, smart cards, prepaid gift and other stored-value cards, electronic bill payment, check authorization and conversion, signature capture and Electronic Benefit Transfer (EBT). Verifone’s annual turnover is estimated at $3.4bn per year.
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