The global outdoor payment terminal market is expected to grow at a CAGR of 7.5% during the forecast period (2022-2028). Outdoor payment terminals (OPTs) are unattended payment terminals that allow customers to conduct secure and quick transactions using contact or contactless payment methods. Outdoor payment terminals allow customers to take advantage of services and pay conveniently without the need for additional staff in end-user industries that see a high volume of transactions daily, such as gas stations. Outdoor payment terminals improve transaction security, efficiency, and flexibility. Furthermore, by eliminating the need for personnel for transactions, outdoor payment terminals reduce operating costs, provide consistent customer service, and increase service availability 24 hours a day, seven days a week. Outdoor payment terminals also communicate with management systems to improve transaction process control and oversight.
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The growing demand for smartphones and rising consumer awareness of online payments, facial recognition, and fingerprint software for smartphones, as well as the availability of online grocery, clothing, and electric products are some factors contributing to the adoption of smart payment systems such as OPTs. By adding a layer of verification to payment portals to secure information, users have built consumer trust. Furthermore, real-time payment technology allows for payment access 24 hours a day, seven days a week. Businesses of all sizes are adopting an online payment culture, which is expected to increase demand for OTP portals. Typically, high-security applications are costly. It is usually very expensive to incorporate or provide access to an online payment gateway application. The high cost of real-time payment solution components, as well as the cost of integrating payment gateways into the online payment market are some factors restraining the market growth.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Deployment Mode
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- ACI Worldwide, Inc, Fidelity Information Services Inc., and Visa, Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Outdoor Payment Terminal (OPT) Market Report by Segment
By Deployment Mode
- On-Premises
- Cloud
By End-User
- BFSI
- IT and Telecommunications
- Retail and E-commerce
- Government
- Energy and Utilities
- Others
A full report of Global Outdoor Payment Terminal (OPT) Market is available at:https://orionmarketreports.com/global-outdoor-payment-terminal-opt-market/113480/
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