Poland POS Terminal Market Size

Poland POS Terminal Market Analysis

The Poland POS Terminal Market is anticipated to grow with a CAGR of 8.4 % during the forecast period (2022 - 2027). POS terminals are being used extensively for accepting cashless payments and have become a commodity in recent years due to their ease of use.

• The Poland government-sponsored Cashless Poland Program aims to subsidize the cost of POS hardware and merchant service charges for new merchants. The operation has already elevated the number of POS terminals to over 1 million - of which nearly 385,000 were subsidized, with 500,000 more planned to be installed by 2022.
• POS Terminals have been adopted in the country primarily due to favorable government policies, increasing Payment Service Providers (PSPs) in the country, shifting consumer payment behaviors, etc. Mellon Poland, for instance, has over 200,000 POS terminals installed and has been providing customized yet innovative solutions and services across the payment and POS terminals market space. Offering an end-to-end platform supporting all aspects of card Issuing and acquiring services has benefitted allied financial organizations by easing operation in the card market.
• The increase in payments volumes via mobile phones are leading to POS/ECR-dedicated hardware being replaced by all-in-one devices, facilitating card-based payments with PIN on glass or Face-to-Face (F2F) E-commerce payments without an NFC requirement. This could lead to payments through Payment Initiation Service Providers (PISPs) with an easier customer interface for payment methods at merchant vendors.
• There has been a growth in the innovation activities by major players in the market to launch products that support different payment options during COVID-19. For instance, in February 2021, Paydoo, a digital payments provider, partnered with PAX Technology to launch PAX E-series, an all-in-one POS and payment solution for Retail and Hospitality verticals. The E-Series is the first retailer solution to combine cash register and payment terminal powered by Android. It gives merchants full control over their store's operations from one simple, intuitive interface while supporting traditional payments from Chip and Pin, contactless, and QR codes.
• However, several regulations have been passed at the country-level to prevent security breaches in POS terminals. The laws such as the Revised Payment Services Directive (PSD2) and POS security ordinance for the technical security of POS systems help reduce fraudulent activities. The vendors in the market are also upgrading their systems to meet the governmental authorities' regulations, which helps reduce security breaches.