t cht lk critical . Digital wallets will also increasingly come to the fore .
t cht lk critical . Digital wallets will also increasingly come to the fore .
POS terminals may soon evolve beyond simply being a way to accept payments for physical goods and
Innovations around Android POS terminals
• Evolution of Android in the payment terminal space allows businesses to find ways to improve the payment customer experience .
• The global Android POS market is worth more than US $ 7 billion .
• Android POS terminals market is expected to grow by around 30 % by 2028 .
• Given the platform ’ s flexibility , lower cost , security , and ability to integrate with third-party applications , this growth is not surprising .
• One of the biggest shifts we will see with Android POS terminal is its ability to accept array of payment methods beyond traditional cards .
• POS terminals may soon evolve beyond a way to accept payments for physical goods and services .
• POS terminals will become platforms that allow people to sell digital goods and services as well as physical ones .
• Advances will help drive the shift towards POS terminals generating revenue rather than just acting as a payment device .
• POS terminal providers that understand this will benefit from increased customer loyalty .
• We will see lending businesses become payment facilitators , or establish partnerships with payment facilitators .
• One of the features of the Android screen is that it can display information in high resolution including QR codes .
services . Instead , they will become platforms that allow people to sell digital goods and services as well as physical ones .
Imagine , for instance , customers were able to buy a month or two ’ s subscription to their favourite streaming service while picking up some groceries , all paid for with their mobile money account .
If you go to the right stores , you do not have to imagine it . Some customers have deployed terminals that offer digital goods and services and we are seeing an increasing level of interest in this type of opportunity .
These advances will help drive the shift towards POS terminals generating revenue rather than just acting as a payment ’ s device . The POS terminal providers that understand this will benefit from increased customer loyalty .
Another example of this is Android terminals driving the convergence of small business lending and payments . In the coming years , we will see lending businesses become payment facilitators , or establish partnerships with payment facilitators . So , for example , a microlender might allow people to apply for , receive , and pay back their loans at a small retailer , all through an Android POS terminal .
The evolution of Android in the payment terminal space also allows businesses to find ways to improve the payment and overall customer experience . Some
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