The outdoor payment terminal market in the United States is experiencing rapid growth due to various factors. Due to the COVID-19 pandemic, there has been an uptick in the adoption of contactless payment methods as a way to minimize the risk of infection. This trend is expected to persist even beyond the pandemic, which will drive the demand for outdoor payment terminals that can process contactless payments.The retail and hospitality sectors in the US are expanding, and many of these businesses are incorporating outdoor payment terminals into their operations to offer customers secure and convenient payment options.
Outdoor payment terminals are becoming increasingly sophisticated, with advanced features such as EMV chip card readers, NFC/contactless payment capabilities, and biometric authentication. These developments are spurring demand for updated and new outdoor payment terminals. The US government is promoting electronic payment adoption to decrease cash transactions, which can be costlier and less secure. This has led to the use of outdoor payment terminals in many government facilities and agencies.
The US outdoor payment terminal market has been considerably affected by the COVID-19 pandemic. The following are some of the most notable ways in which the market has been impacted: The demand for contactless payment methods has grown due to concerns about the virus's spread. Consequently, outdoor payment terminals that facilitate contactless payments like NFC and mobile payments have become increasingly popular. The pandemic has expedited the shift to digital payments and e-commerce, leading to greater demand for outdoor payment terminals that can support online and mobile transactions.
Consumer behavior has changed due to the pandemic, with more people opting to shop online and use delivery services. This has resulted in an upsurge in demand for outdoor payment terminals that can support mobile payments and delivery transactions. Global supply chains have been disrupted as a result of the pandemic, causing delays in the production and delivery of outdoor payment terminals. This has resulted in a scarcity of terminals in some regions, negatively affecting market growth. The pandemic has caused significant economic turmoil, with many businesses facing financial difficulties. This has resulted in a slowdown in the adoption of outdoor payment terminals as businesses prioritize cost-cutting measures.
USA Outdoor Payment Terminal Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Gilbarco Veeder-Root, IDTECH, Invenco, NCR Corporation, Outdoor Payment Terminal Providers, Wayne Fueling System
USA Outdoor Payment Terminal Market Segmentation:
By Type: Based on the Type, USA Outdoor Payment Terminal Market is segmented as: Contactless Payment Terminal, Contact Payment Terminal.
By Application: Based on the Application, USA Outdoor Payment Terminal Market is segmented as: Refuel, Carwash, Malls, Others.
By Region: This report also provide the data for key regional segments of USA: Northern, Southeast, Midwest, Sothwest, West.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.