Market Overview

Multi-Billion Dollar Point-of-sale Market Expected High Growth Rate for Electronic Payment Industry Over Next Few Years


Multi-Billion Dollar Point-of-sale Market Expected High Growth Rate for Electronic Payment Industry Over Next Few Years

PR Newswire

PALM BEACH, Florida, August 16, 2018 /PRNewswire/ -- News Commentary 

As wireless internet and connectivity continue to influence daily transactions, especially in the area of point-of-sale (POS) systems, the opportunities for growth and strengthened revenues grow alongside it. According to a report issued by Research and Markets, the global contactless point-of-sale industry will experience a CAGR north of 23% over the next four years. The market was already valued north of $6 billion at the end of 2017. The market is expected to reach $15 Billion USD by the end of 2023, growing at a CAGR of 15.7% between 2017 and 2023.As technologies like the Internet of Things (IoT) and NFC become more prevalent in POS platforms through devices like smartwatches and wallets, industry leaders are creating innovative offerings to businesses to adequately capture the rising demand. Additionally, market growth figures to be driven strongly by increased competition from other non-traditional forms of payment evolving from other advanced technologies. Active tech companies in the markets this week include Gopher Protocol Inc. (OTC:GOPH), Pitney Bowes Inc. (NYSE:PBI), USA Technologies Inc. (NASDAQ:USAT), VeriFone Systems Inc. (NYSE:PAY), NCR Corporation (NYSE:NCR).

Gopher Protocol Inc. (OTCQB:GOPH) BREAKING NEWS: Gopher Protocol, a company specializing in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies, is pleased to announce that its recent acquisitions, which now comprise its fintech division, led by ECS Prepaid ("ECS"), have been fully integrated.  

The fintech division which includes primarily ECS and Ugopherservices ("UGO"), in the second quarter of 2018 did 1,134,725 transactions from 9,855 terminals of which 9,604 were billable amounting to gross revenue of $13,421,410 during the three-month period ending June 30, 2018 (unaudited).

Gopher intends to continue this pattern with recent agreements for processing alignments, the addition of AT&T SIM Activation program, and increased product margins on existing core products.

"The UGO platform, which used third parties for processing transactions, is now using the ECS platform reducing ACH transaction costs from $0.14 to $0.02, which is expected to increase our profit margins. Our ECS platform was able to generate gross margins of approximately 4% for the platform, amounting to more than $500,000 in gross profits" stated Kevin Pickard, Gopher's CFO. Read this and more news for GOPH at

Other recent developments in the tech industry include:

Pitney Bowes Inc. (NYSE:PBI) recently announced a strategic partnership that improves customer experience, drives revenue growth and delivers cost savings by optimizing parcel delivery service for small businesses. In Australia, Pitney Bowes has introduced SendPro, a shipping platform powered by Sendle that revolutionizes how businesses conduct commerce by removing the complexities of shipping for small businesses. This launch is part of a longer term vision to offer a comprehensive range of shipping solutions designed to meet the needs of small businesses across Australia. According to the Pitney Bowes Shipping Index, overall parcel volume in Australia grew by 13 percent reaching 794 million parcels shipped in 2016. SendPro greatly reduces shipping costs for both retailers and office shippers, and speeds accurate delivery to Australian shoppers.

USA Technologies Inc. (NASDAQ:USAT) recently announced that Admiral Pepsi, one of the largest privately-held bottlers for Pepsi-Cola products in North America, signed a multi-year agreement for USAT's ePort Connect Service. The agreement includes deployment of the ePort cashless payment system on nearly 6,000 machines in addition to the Seed Pro logistics software. The complete end-to-end enterprise solution would enable Admiral to provide cashless payments, improve customer service and route efficiency and reduce the company's carbon footprint. Admiral Beverage and affiliated companies have been quenching the thirst of the Pepsi generation for more than 50 years. The Company employs over 1,600 employees with 35 facilities operating in an eight-state region, producing 48 flavors and brands in bottles and cans. "Admiral Beverage is dedicated to meeting the needs of the accounts by providing superior products and service," said sources at Admiral Beverage. "USAT helps to fulfill this mission by providing a better consumer experience, offering consumers at those accounts new payment options like credit, debit and mobile, as well as ensuring we keep our machines stocked and full of the products in demand. The Seed Pro software has the dual benefit of also increasing operational efficiencies for Admiral. The increase in customer satisfaction, projected increase in revenue and decrease in operating costs make this a triple win for our company. We are looking forward to quickly deploying the full suite of USAT's services and enjoying the benefits of the single platform that they offer."

VeriFone Systems Inc. (NYSE:PAY) and Bluefin, a leading global payment security platform supporting gateways, processors and ISVs, recently announced a partnership to provide Bluefin's PCI-validated Point-to-Point Encryption (P2PE) security solution to merchants using either Verifone's POINT or Retail Transaction Switch (RTS) solutions. Through this partnership, merchants can reduce not only the cost and effort they incur when trying to comply with PCI PA DSS requirements, but also mitigate the risk associated with face-to-face payments. The Verifone Validated P2PE solution, which can now be viewed on the PCI P2PE Solution website, is an incremental offering within Verifone's industry-leading payment security product line. This Validated P2PE solution is designed to meet the needs of merchants of all sizes and offers multiple configurations and processing options.

NCR Corporation (NYSE:NCR) earlier this week announced a new online purchase platform, allowing prospective U.S. based customers to browse available options and purchase the NCR Silver cloud-based point-of-sale (POS) solution designed for small- to mid-market business owners. NCR's new product purchasing platform for the NCR Silver solution streamlines the buying process for interested consumers and provides them a multitude of opportunities. The NCR Silver solution is designed to enable SMB business owners to meet their goals by providing many of the same tools used by larger enterprises - such as detailed analytics, e-commerce capabilities and the ability to manage their businesses remotely - all at an affordable cost. "NCR is leading the way in transforming how business is conducted," said Chris Poelma, President and GM of NCR Small Business. "Our new online purchase platform automates the selection and purchase process for prospective customers, providing them the ability to interact with the buying process more easily and helps save them their most precious commodity: time. Prospective customers can research, get recommendations and purchase all within minutes, whenever and wherever it's convenient for them."

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