June 02, 2011 04:00 AM Eastern Daylight Time
DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "China Financial POS Machine Industry Report, 2010-2011" report to their offering.
As of the end of 2010, there were 3.33 million networked POS machines in China, up 925,700 units or 38.5% year on year.With the rising consumption level and improving consumer awareness in China, the demand for bank card payment is growing, and the number of merchants in the POS network is rapidly increasing, promoting the demand for financial POS machines. As of the end of 2010, there were 2.18 million merchants in the interbank-payment-network, up 610,000 merchants or 38.9% year on year.
The fast-growing ownership of networked financial POS machines doesn't mean that the Chinese financial POS machine market has been saturated. In China, each POS machine corresponds to 724 bank cards, far outnumbering developed countries'. In the long run, there is still enormous potential demand for POS machines to be developed in China. In the short run, China's banking industry is accelerating the EMV migration from magnetic stripe card to IC card, making it possible for the demand from financial POS machine inventory transformation to increase rapidly. Furthermore, the improvement of the bank card payment security resulted from the EMV transformation will increase the incremental demand in the mid-to-long term.
LANDI Commercial Equipment Co., Ltd. is one of the largest financial POS vendors in China. In 2008, it was acquired by Ingenico, one of the largest financial payment providers in the world. It sold more than 500,000 financial POS machines in China in 2010.
PAX Global Technology Limited is an electronic funds transfer at point-of-sale (EFT-POS) terminal solution provider occupying a large share in the Chinese market. In 2010, it was spun off from Hi Sun Technology, and went public on the HKEx.
Key Topics Covered:
1. OVERVIEW OF CHINA FINANCIAL POS MACHINE INDUSTRY... read more
