How quarantine affected the number of POS terminals: NBU report

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POS terminal network reduced due to quarantine measures

How quarantine affected the number of POS terminals: NBU report

National Bank reported that due to quarantine restrictions for the first time since 2017, the network of POS terminals shrunk in the first quarter. The reduction was due to Privetbank (-5.3 thousand terminals). Other state and foreign banks increased their network (1.2 thousand and 0.6 thousand units respectively).

The Ukrposhta network was reduced by 0.5 thousand terminals. The number of terminals was 344 thousand, including PrivyBank – 199.6 thousand, other state banks – 66.5 thousand, foreign banks – 56.6 thousand, private banks – 16.9 thousand.

Since the start of quarantine in mid-March, many entrepreneurs have closed POS terminals due to business closures (mainly stores in malls), so many banks have zero monthly for non-working terminals for the quarantine period. Fee is introduced.

But, according to industry experts, many entrepreneurs have not suspended their activities, that is, they have liquidated their SPDs. The number of ATMs has been declining for 5 consecutive quarters.

Summary PAYSPACE magazine

Recall that by 2024 there will be more than 161 million contactless POS terminals in the world. The research company Juniper Research shared these forecasts in its new report. If Juniper’s expectations are met, after 4 years, 94% of all terminals in the world will be equipped with a contactless module.

Last year, there were 78 million card readers in the world with the option of accepting contactless payments. Analysts say market growth will ensure the proliferation of contactless POS-terminals in the United States. Coronavirus contributed to the popularization of contactless POS-terminals worldwide.

Read: Visa invests in Charges after POS financing platform


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