Market Size of Romania POS Terminals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.68 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Romania POS Terminal Market Analysis
The Romania POS Payment Market is expected to grow at a CAGR of 11.68% during the forecaste period 2022-2027. Cash remains the dominant payment instrument in Romania, however, high-value transactions are gradually shifting to electronic platforms driving the market growth.
- Although the use of payment cards (primarily debit cards) is gradually rising, they are mostly used for cash withdrawals at ATMs rather than making payments at merchant outlets. But the government has taken steps to promote electronic payments, including the introduction of the cashback law in 2017 to push merchants to accept card-based payments.
- According to Black Sea Trade and Development Bank, as of December 2020, Consumer Loans only contributed 20% of the credit portfolio of the country. This suggested that the number of credit card holders or retail loan bearers is less compared to the EU average.
- However, the pandemic has triggered a growth wave in the country where the OECD believes that the Romanian economy will quickly recover from the pandemic, with the GDP rising in 2021 by 6% and 4.6% in 2022. Import levels will increase faster than exports, and a return to pre-pandemic levels of unemployment is expected by 2022.
Romania POS Terminal Industry Segmentation
The Romania POS Terminal market covers the number of terminals sold in a particular year. The report covers the demand of Fixed POS terminals including devices such as PC-based workstations, namely PC-class Processor-based and LAN available terminals. Also, PC on Cash Drawer Devices (PCOCD) and self-checkout (unattended terminals) are part of the scope.
Mobile/Portable devices such as tablets of all sizes and handheld terminals with or without payment processing capabilities are considered. Devices are considered with or without credit/debit readers. The study also analyzes the impact of Covid-19 on market.
| By Type | |
| Fixed Point-of-sale Systems | |
| Mobile/Portable Point-of-sale Systems |
| By End-User Industry | |
| Retail | |
| Hospitality | |
| Healthcare | |
| Others |
Romania POS Terminals Market Size Summary
The Romania POS terminal market is experiencing significant growth, driven by a shift from cash to electronic payment methods. Despite cash remaining the dominant payment instrument, there is a noticeable trend towards high-value transactions being conducted through electronic platforms. The government's initiatives, such as the cashback law, aim to encourage merchants to accept card-based payments, contributing to the gradual increase in the use of payment cards, particularly debit cards. The pandemic has further accelerated this transition, with a surge in card payment volumes and values, supported by attractive repayment options and incentives offered by banks. The rise in e-commerce and digital payment platforms, spurred by the pandemic, has also played a crucial role in the adoption of POS payments, as consumers increasingly prefer the convenience of online shopping and digital transactions.
The competitive landscape of the Romania POS terminal market is characterized by the presence of major players offering value-added services to enhance consumer adoption. Companies are expanding their market presence through new contracts and by entering new markets, with innovations such as mobile POS systems and contactless payment solutions. Initiatives like the launch of sPOS by OTP Bank and the expansion of smart contactless payment systems by Banca Comerciala Romana highlight the industry's focus on integrating advanced technologies to improve user experience and security. The introduction of new generation EFT-POS terminals by Alpha Bank further underscores the market's commitment to evolving with the latest standards, ensuring seamless integration and enhanced payment processing capabilities.
Romania POS Terminals Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Value Chain Analysis
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Intensity of Competitive Rivalry
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1.3.5 Threat of Substitutes
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1.4 Assessment of COVID-19 Impact on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Fixed Point-of-sale Systems
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2.1.2 Mobile/Portable Point-of-sale Systems
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2.2 By End-User Industry
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2.2.1 Retail
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2.2.2 Hospitality
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2.2.3 Healthcare
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2.2.4 Others
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Romania POS Terminals Market Size FAQs
What is the current Romania POS Terminals Market size?
The Romania POS Terminals Market is projected to register a CAGR of 11.68% during the forecast period (2024-2029)
Who are the key players in Romania POS Terminals Market?
SIBS, Mellon Romania S.A., Ingenico, Rapyd and OTP Bank are the major companies operating in the Romania POS Terminals Market.
