Market Size of Netherlands POS Terminal Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.70 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Netherlands POS Terminal Market Analysis
The Netherlands point of sale terminal market is expected to grow at a CAGR above 11.7% during the forecast period, 2022-2027. Nearly everyone in the Netherlands has a debit card from their bank that is linked to a payment account. The Dutch Payments Association is committed to the safety of using payment terminals in the Netherlands.
- In the current market scenario, the 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.
- In early 2020, a consortium of European banks announced they were taking the first steps to creating a pan-European payment solution. This solution will be based on Instant Payments for use in stores, online, and between individuals. The European Payments Initiative (EPI) consortium intends to start operational activities by the end of 2022. The Netherlands Payment Association is considering how EPI can be fitted into the Dutch payment landscape.
- The efforts by the European Commission to simplify the payment acceptance facilities of merchants are also triggering the market's growth. Till 2023, as part of the retail payments strategy, the European Commission has an action plan to support the modernization and simplification of EU merchants' payment acceptance facilities. This support could be achieved by guidance and awareness-raising amongst national retailers.
- The Netherlands witnessed a strong year in digital transactions and increased consumer interest in interacting with different payment methods, including no-contact POS terminals. Due to the countermeasures related to COVID-19, the share of contactless payments increased enormously. Virtually all payment terminals in the Netherlands accept contactless payment instruments since every cardholder can have a contactless bank card.
