Market Size of Romania POS Terminals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.68 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Romania POS Terminals Market Analysis
The Romania POS Payment Market is expected to grow at a CAGR of 11.68% during the forecaste period 2022-2027. Cash remains the dominant payment instrument in Romania, however, high-value transactions are gradually shifting to electronic platforms driving the market growth.
- Although the use of payment cards (primarily debit cards) is gradually rising, they are mostly used for cash withdrawals at ATMs rather than making payments at merchant outlets. But the government has taken steps to promote electronic payments, including the introduction of the cashback law in 2017 to push merchants to accept card-based payments.
- According to Black Sea Trade and Development Bank, as of December 2020, Consumer Loans only contributed 20% of the credit portfolio of the country. This suggested that the number of credit card holders or retail loan bearers is less compared to the EU average.
- However, the pandemic has triggered a growth wave in the country where the OECD believes that the Romanian economy will quickly recover from the pandemic, with the GDP rising in 2021 by 6% and 4.6% in 2022. Import levels will increase faster than exports, and a return to pre-pandemic levels of unemployment is expected by 2022.
