Seamless Use Cases of Outdoor Payment Terminals

The rising trends of contactless payment modes have paced the demand for outdoor payment terminals (OPTs) as effective payment platforms. These terminals are efficient, convenient, and versatile in various aspects, protecting consumers from fraud and enabling them to avoid chargebacks. In this article, we will discuss the latest applications of these payment terminals and the contribution of prominent players in transforming the industry.  

How outdoor payment terminals are useful for several industries: 

Coming with numerous beneficial features, these payment solutions are highly favorable for various sectors. They are designed with durable and protective materials to withstand diverse climatic conditions such as rain, heat, snow, and other challenging outdoor environmental situations. This feature makes them suitable for gas stations where customers can pay for fuel without leaving their vehicles. Moreover, these payment terminals can streamline the payment process, reducing the waiting time and queues. It makes them ideal for various outdoor operations, especially in the parking facilities, public transportation systems to purchase tickets, fast food chains, and fueling stations, providing a hassle-free experience to both parking operators and customers. 

Furthermore, these payment systems are equipped with advanced security features such as encryption protocols, and secure communication channels, ensuring the protection and privacy of sensitive financial information. It can be beneficial for various help desk services at medical facilities, government offices, utility bill payment services, and many more. On the other hand, as these payment solutions can be extended with a centralized estate management capability, they can also be used across various industries to track assets, monitor their performances, and regulate operations effectively.  

The outdoor payment terminal market is experiencing significant growth due to the increasing penetration of smartphones in the day-to-day lives of individuals and the growing adoption of cloud-based OPTs for various applications. Based on the application, the other segment is predicted to generate a revenue of $982.6 million over the analysis timeframe from 2022 to 2032. Country-wise, India is expected to showcase a noteworthy CAGR of 19.6% over the estimated period.  

Mergers and acquisitions among leading industry players: 

The major players in the market have undergone several favorable mergers and acquisitions to safeguard the competitive landscape. A notable example is the acquisition of Orbis Technologies Ltd, a leading software technology company, by Professional Datasolutions Inc., a leading provider of system management services. With this acquisition, the companies aimed to expand their back-office and home-office terminals with cloud-based point-of-sale payment terminals.  

Similarly, Vontier Corporation, a leading industrial technology company announced its acquisition of Invenco, a renowned provider of en-platform retailing and payment hardware and software solutions. This acquisition would benefit Invenco in expanding its offerings by incorporating software-enabled payment solutions and subscription business models. It would help retailers to operate with secure payment options.

To wrap up, the increasing adoption of these highly reliable payment terminals across retail setups and pop-up shops, because of their mobile and versatile nature, can be a dragging factor for the exponential market growth in the forthcoming years. Moreover, the increasing awareness about the advanced security features offered by smartphone-based payments can boost the market with new goals.  

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