Belgium POS Terminals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Belgium POS Terminals Market is Segmented by Type (Fixed Point-of-sale Systems, Mobile/Portable Point-of-sale Systems), by End-User Industry (Retail, Hospitality, Healthcare and Others) and Geography.

Belgium POS Terminals Industry Overview

Belgium POS Terminals Market
Study Period: 2019 - 2028
CAGR: 13.87 %

Major Players


*Disclaimer: Major Players sorted in no particular order


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Belgium POS Terminals Market Analysis

The Belgium POS terminal market is expected to grow with a CAGR of 13.87% during the forecast period of 2022–2027. In the current market scenario, POS terminal systems have evolved from transaction-oriented devices to systems that support and integrate into businesses' CRM and other financial solutions. This instance allowed companies to leverage captured transactional data through POS terminals for business intelligence.

  • As per the European Central Bank, in 2021, the total number of POS terminals, including all payment services in Belgium, was 300,220, whereas the total count was 273,972 in 2020, indicating a rise in the total number of POS terminals in Belgium.
  • As per Statbel, in 2022, the population of Belgium was approximately 11.58 million and had increased by about 63,000 compared to 2021. With the rise in the population, the overall consumption of goods and services will also increase. This rise in the consumption of goods and services will create the demand for better payment alternatives and fuel the overall growth of the POS Terminals Market in Belgium.
  • The rise in fraud, scams, and various security-related concerns due to the usage of critical information during payment methods might be a factor that can restrain the market's growth in the region.
  • The surge in the demand for online payment methods propels the payment terminal market's growth. In Belgium, various merchant offerings on online payment, such as point-of-sale and rebates, encourage users to make digital payments, driving the demand for payment terminals. The digital payment market is growing primarily due to rapid advancements in e-commerce, mobile payment technologies, and the rising use of mobile wallets.
  • The COVID-19 pandemic had created a huge demand for contactless payments, increasing the need for POS terminals equipped with NFC, RFID, and other technologies accepting payments from contactless chip cards or digital interface cards.

Belgium POS Terminals Industry Segments

A device that connects with payment cards to transfer electronic cash is known as a payment terminal, point of sale (POS) terminal, credit card terminal, or EFTPOS (Electronic Funds Transfer at Point of Sale) terminal (formerly known as Process Data Quickly or PDQ terminal). The terminal comprises a screen, a secure keypad (referred to as a PINpad) for inputting PINs (Personal identification numbers), a device for reading data from payment cards, and a network connection for connecting to the payment network for authorization. The Belgium POS Terminals Market is Segmented by Type (Fixed Point-of-Sale Systems, Mobile/Portable Point-of-Sale Systems), End-User Industry (Retail, Hospitality, Healthcare, and Others), and Geography.

By Type
Fixed Point-of-sale Systems
Mobile/Portable Point-of-sale Systems
By End-User Industry

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Belgium POS Terminals Market Trends

This section covers the major market trends shaping the Belgium POS Terminals Market according to our research experts:

 Rising Adoption of Contactless Payment

  • People in Belgium are widely adopting contactless payment options. There is a growing trend of contactless payment systems like credit cards, smart cards, debit cards, or other devices, including smartphones and various other mobile devices that utilize radio-frequency identification (RFID) or NFC (near field communication), e.g., Google Pay, Apple Pay, Fitbit Pay, Murphy, or any bank mobile application which support Contactless technology for making secure payments.
  • The stores and services in Belgium are rapidly integrating and adopting several mobile payment applications, like PayPal, Samsung Pay, Apple Pay, AliPay, and WeChat Pay, to accept payments. Due to the vast changing lifestyles, daily commerce, and rapid growth in online retailing, this trend is expected to continue over the forecasted period.
  • As per the National Bank of Belgium, the introduction of chatbots and digital wallets, the creation of neobanks, and the several establishments of partnerships with other major market players are all initiatives that illustrate the growing digitization in the banking sector. This technique is not new, but the pandemic has pushed digitization in this sector into high gear.
  • The growing desire for contactless and cashless payments has also fueled the market growth. The rise in digitalization, the use of e-payment platforms, and the rising regulatory intervention on secure payments due to multiple financial fraud cases have led to the growth of the payment terminal market in the region.
  • As per Eurostat, the total share of daily internet users in Belgium increased by two percent in 2021 compared to the previous year. With 86 %, the share of daily internet users thereby reached its highest value in the observed period. Notably, the share of daily internet users has been, except for 2020, continuously increasing over the last years. This will drive the demand for Contactless payment systems, which will enhance the market's growth in the region throughout the forecasted period.
Belgium POS Terminals Market

Retail Sector is Expected to Witness Significant Growth

  • Belgium, which is situated in Western Europe, is a modern economy with a diverse set of industries and commercial activities. Over the past decade, sales numbers of the entire wholesale and retail trade in Belgium have developed positively. This positive sales development in terms of the total retail trade industry will augment the market's growth.
  • According to Retail-Index, in the year 2022, with 100 chains, the fashion and apparel industry was the largest retail chain in Belgium. Home goods came in second with 29 retail chains. The third-placed furniture and decoration industry had 25 retail chains, while the pet care and car parts and accessories industries had only six each.
  • According to OECD (Organisation for Economic Co-operation and Development), in the second quarter of 2020, the total retail trade sales volume in Belgium was 99.7index. Retail trade volume surpassed the index level starting in the third quarter of 2020 and was recorded at 105.4 in the second quarter of 2022. This rise in the overall retail index indicates a growing trend in the positive direction in terms of the growth of the retail sector in Belgium.
  • The retail market, both on the occupational and investment side, in Belgium is changing rapidly, primarily due to the factors like the COVID-19 outbreak, changes in demographic patterns, the exponential rise of online retail, and the emergence of new formats and retail concepts. The retail market is experiencing an unprecedented mutation. Due to this, retailers, owners, developers, brokers, and clients are positively impacted.
  • Belgium saw a significant change in total retail trade sales in the last decade. As per OECD, in 2021, the overall retail sales grew by 5.5% compared to the previous year's period. This increase in retail sales will significantly drive the growth of the Belgium POS Terminals Market.
Belgium POS Terminals Market

Belgium POS Terminals Market Competitor Analysis

Belgium's POS terminals market has several regional competitors and is moderately competitive. Corporations rely on strategic collaborative initiatives, mergers, and acquisitions to enhance market share and profitability. Some of the main players in the region are Sumup Inc., Elavon, Worldline, Payworld, etc.

  • July 2022 - Worldline signed a partnership to smartly manage expense policies on corporate cards. The partnership will combine Worldline's pan-European Card Issuing Processing platform and expertise in business expense management.
  • November 2021 - SumUp announced that it completed the acquisition of Fivestars, America's largest two-sided local commerce network that combines a marketing platform with integrated payments. Fivestars was acquired for a total of USD 317 million. The acquisition will give the company access to more than 12,000 small businesses and 65 million consumer members on Fivestars's network, which drives over USD 3 billion in sales and 100 million transactions annually.

Belgium POS Terminals Market Top Players

  1. CCV

  2. Sumup Inc.

  3. Elavon

  4. Worldline

  5. Payworld

*Disclaimer: Major Players sorted in no particular order


Belgium POS Terminals Market Recent Developments

  • September 2022 - The European Central Bank (ECB) chose Worldline to prototype the front-end user experience for the digital euro. By supporting key and possibly transformative projects like the digital euro, Worldline intends to participate in the growth of the payment industry actively and hence shares the common goal of the ECB and its partners.
  • May 2022 - Worldline declared that it had opened a unique virtual showroom, making it one of the first payment companies to enter the Metaverse. For e-Commerce businesses, the company intends to create a link between the network of virtual worlds and real worlds network and give its merchants the tools they need to take full advantage of the great possibilities the Metaverse offers.

Belgium POS Terminals Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definitions

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Assessment of COVID-19 Impact on the Market


    1. 5.1 Market Drivers

      1. 5.1.1 Low Total Cost of Ownership Compared to Other Channels of Payments

      2. 5.1.2 Significant Rise in the Demand for Contactless and Mobile POS Terminals

    2. 5.2 Market Challenges

      1. 5.2.1 Security Concerns Due to the Usage of Critical Information

    3. 5.3 Market Opportunities

      1. 5.3.1 Rising Adoption of Contactless Payment

    4. 5.4 Key Regulations and Complaince Standards of PoS Terminals

    5. 5.5 Commentary on the rising use of contactless payment and its impact on the industry

    6. 5.6 Analysis of Major Case Studies


    1. 6.1 By Type

      1. 6.1.1 Fixed Point-of-sale Systems

      2. 6.1.2 Mobile/Portable Point-of-sale Systems

    2. 6.2 By End-User Industry

      1. 6.2.1 Retail

      2. 6.2.2 Hospitality

      3. 6.2.3 Healthcare

      4. 6.2.4 Others


    1. 7.1 Company Profiles

      1. 7.1.1 CCV

      2. 7.1.2 Sumup Inc.

      3. 7.1.3 Elavon

      4. 7.1.4 Ingenico

      5. 7.1.5 Worldline

      6. 7.1.6 Loyaltek

      7. 7.1.7 Payworld

      8. 7.1.8 Viva Wallet

      9. 7.1.9 BNP Paribas Fortis

      10. 7.1.10 Keyware

    2. *List Not Exhaustive


**Subject to Availability
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Belgium POS Terminals Market Research FAQs

The Belgium POS Terminals Market is studied from 2019 - 2028.

The Belgium POS Terminals Market is growing at a CAGR of 13.87% over the next 5 years.

CCV, Sumup Inc., Elavon, Worldline, Payworld are the major companies operating in Belgium POS Terminals Market.

Belgium POS Terminals Industry Reports

In-depth industry statistics and market share insights of the Belgium POS Terminals Market sector for 2020, 2021, and 2022. The Belgium POS Terminals Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Belgium POS Terminals Market report PDF.

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