The company mobile phone can also be used as a bank card accepting terminal

By: Trademagazin Date: 2023. 05. 05. 09:50

Since 2021, it is mandatory to provide electronic payment options for businesses with online cash registers, so the number of bank card terminals has doubled in the last 3 years: more than 300,000 such devices are currently in use. At the same time, the public’s demand for payment options with smart devices is also increasing, last year more than three times as many transactions were carried out than the year before. However, this number may increase further, since even the company smartphone can be cost-effectively converted into a payment terminal with the innovative SoftPOS android-based application available at K&H. According to analysts, such POS applications will be available on nearly 25 million mobile phones by 2026, while by 2028 they may account for half of the market for bank card terminals.

We can slowly forget the classic bank card payment and the wallet can stay in the bag, as payment solutions with smart devices are becoming more and more popular among the population. In 2022, K&H’s retail customers completed 3.5 times as many such transactions compared to the previous year, and this number is expected to rise even further this year.

“On the part of the population, there is a clear demand for smart payment solutions, which are available at more and more businesses. As of January 1, 2021, it is mandatory for businesses using online cash registers to provide customers with an electronic payment option. As a result, the number of deployed terminals has shown a dynamic increase in the last 3 years. While at the end of 2019 there were 145,000 POS terminals, at the end of 2022 there were more than double that amount, 306,000 POS terminals were available on the domestic market. However, this number may be even higher in the future, thanks to the fact that the POS market is also developing extremely quickly, as a result of which the entrepreneur’s smartphone can be used as a terminal accepting bank cards.”

– said Zoltán Rammacher, head of K&H SME marketing and sales support.