Payment Hardware Companies Are Pivoting To Deflect The Threat From Mobile Card Reader Startups

Legacy payment hardware companies already have tremendous market share in developed markets.

But payments startups are forcing these businesses to become more than terminal providers. They are increasingly becoming full-service providers of sales, analytics and mobile products.

Ingenico, one of the largest payment terminal providers worldwide, is rebranding itself to communicate its evolution into a “seamless payment services provider,” the company said in a release.

The reason for the pivoted focus is that the market for payment terminals in developed markets has stalled, in part, because of the availability of mobile point-of-sale systems that transform smartphones and tablets into credit and debit card readers.

In a new report from BI Intelligence, we take an in-depth look at the global payment terminal market. We examine which regions are driving growth and how market share is shaping up in different regions. We also take a look at the three ways mobile technology could eventually kill the legacy payment terminal and assess how big a threat mobile really poses.

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Here are some of the key elements from the report:

In full, the report:

For full access to all our charts, data, and analysis on the payments industry — including downloadable Excel files — sign up and get started.

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