POS Market and eKYC Payment
The POS Market
According to Fortune Business Insights report in November 2024, The U.S. POS market has shown remarkable growth, anticipating an increase to 33.4 billion USD in 2024 and reaching 110 billion USD by 2032. Driving this surge are key factors such as the increasing adoption of digital payments and mobile wallets within POS systems, which not only streamline transaction processes but also significantly enhance the overall user experience. Total transaction value in the Digital Payments market is projected to reach US$17.72 trillion in 2024.
Here are some staggering Digital Payment data from Statista report in October 2024:
- Total transaction value in the Digital Payments market is projected to reach US$17.72 trillion in 2024.
- Total transaction value is expected to show an annual growth rate (CAGR 2024-2029) of 15.71% resulting in a projected total amount of US$36.75 trillion by 2029.
- The market's largest market is Mobile POS Payments with a projected total transaction value of US$10.85 trillion in 2024.
Our POS Solution
Global card losses attributed to fraud reached $33 billion in 2022, according to payments industry research company Nilson Report, with the U.S. market representing roughly 40% of losses. It has forecast a persistent threat that could reach nearly $400 billion in card fraud in the decade to 2032. With ID authentication monitors installed at Points of Sale, InterLink ID is set to revolutionize payment transactions at Point of Sale (POS) systems by providing advanced security protocols that ensure both efficiency and reliability for users who already have registered for their InterLink ID’s. By leveraging our innovative technology via InterLink ID and InterLink Chain, we enhance the way consumers interact with payment systems, enabling them to complete their transactions with confidence, reducing wait times and minimizing friction during checkout, while simultaneously fortifying security measures that protect sensitive data from potential breaches.
Our solution provides unparalleled security without the necessity for devices or cards. With our all-in-one platform, you can make payments for cryptocurrency, access healthcare systems, and more—all globally available through one secure ID. It’s simple, fast, and safe. The integration of InterLink Chain reinforces consumer trust through robust encryption and verification processes, ensuring that every transaction is not only fast but also secure.