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European Smart Payments Market in 2023: the new player is coming?

As the world becomes increasingly digital, the way we make payments is also evolving in Europe as well. Smart payment solutions are becoming more prevalent, making transactions faster, more secure, and more convenient for consumers and businesses alike. Smart payment solutions Europe

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Smart payment terminals are a type of electronic point-of-sale (EPOS) device that enables businesses to accept payments through a variety of methods, including chip and pin, contactless and mobile payments. They are equipped with advanced technologies such as biometric authentication, wireless connectivity, and advanced security measures, which help to protect both the consumer and the business from fraud and cyberattacks.

The smart payment terminal market is dominated by a few key players, including Verifone, Ingenico, and PAX Technology. These companies have been at the forefront of developing new technologies and innovations that are changing the way we make payments. In Europe, the smart payment terminal market is growing rapidly, with countries such as the UK, France, and Germany leading the way.

Digital Solutions Provider Tianyu Eyes European Payments Market in 2023

Tianyu Information, one of the world’s largest manufacturers of smart payment terminals, aims to grow its presence in the European market following the company’s successful participation in the world’s leading retail trade fair, EuroShop, which took place between February 26 and March 2 in Dusseldorf, Germany.

“We are pleased to meet our partners at the exhibition and discuss our business plans for 2023 in Europe, as well as other regions such as Asia Pacific, MEA, North America, and Latin America,” said David Liu, VP of International Business Division at Tianyu. “Through our extensive network of regional service centers and global marketing channels, we are confident to provide excellent value and unparalleled support to help our customers achieve their goals.”

Tianyu was in the world’s Top 4 smart payment terminal players globally by market share, per a 2022 Nilson report. The company’s global expansion efforts are expected to yield full-year earnings of $9m to $13m in 2022, up to 163% YoY. The company’s growth is driven by enhanced supply chain management and a dual-driven domestic and international development strategy, boosting sales and revenue for its smart card and intelligent payment terminal offerings.

In addition, Tianyu also expanded its business footprint into products and solutions covering communications, the Internet of Things (IoT), big data, and more. The company offers a range of communications solutions, including eSIM solutions and telecom products such as SIM cards, Mobile Wi-Fi, Customer Premise Equipment (CPE), and Passive Optical Networks (PON).

Trends in the smart payment market Smart payment solutions Europe

One of the key trends in the smart payment market is the adoption of mobile payments. As more consumers choose to use their smartphones for everyday tasks such as shopping and banking, businesses are responding by offering mobile payment options through their smart payment terminals. This trend is expected to continue as mobile payment technologies become more advanced and consumers become more comfortable using them.

Another trend is the move towards a cashless society. Many businesses are already choosing to go cashless, and smart payment terminals are helping to facilitate this shift by offering a range of payment options that do not require physical cash. This trend is also being driven by governments and central banks, which are looking to reduce the costs and risks associated with cash handling.

Overall, the smart payment and smart payment terminal market is poised for continued growth and innovation in the coming years, and new players like Tianyu Information are entering the market to meet this demand. As technology advances, we can expect even more disruption and innovation in the payments space, offering faster, more secure, and more convenient payment options for all.

 

 

 

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