China Financial POS Machine Industry Report, 2009-2010
With the growing number of bank cards and increasing bank card consumption, the financial POS machine coverage has increased gradually in China. The quantity of China’s networking POS machines has boosted up at a CAGR over 35% since 2003. The growth rate achieved 59.9% in 2008 due to the Beijing Olympics, and reached 30.3% in 2009, a slight decline over 2008 but still a strong growth, and the number of networking POS machines all over China amounted to 2.4083 million sets in 2009. ( http://www.bharatbook.com/
In China, key POS machine companies include Ingenico, Fujian Landi Commercial Equipment Co., Ltd and VeriFone. In 2008, Ingenico acquired 55% shares of Fujian Landi, which sold nearly 300,000 sets of POS machines in China in 2009, to increase its share in China’s market to around 50% while decreasing the share of VeriFone to around 33%.
China’s financial POS machine market will maintain rapid growth in 2010 with continuous growth of citizen consumption. Firstly, as single POS machine in China is corresponding to a relatively higher quantity of bank cards, the financial POS machine coverage will be further expanded. Secondly, nationwide, the number of cards issued by banks will continue to grow.
Based on statistics from authoritative sources such as the People's Bank of China, China Banking Association, National Bureau of Statistics and China UnionPay, the report has made an in-depth analysis on the status quo of China’s financial POS machine industry, financial POS machine business development of key operators (banks), as well as the operation of key domestic and foreign financial POS machine manufacturers, and forecasted future development trend of financial POS machine industry.
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