Point of Sales Systems (POS) – Advanced Electronic Payment Systems and Dial-up Technologies

The Electronic Payment Industry

In today's fast-paced consumer retail market, analog dial-up payment processing systems account for the majority of all electronic payment configurations. The analog dial-up technology, among others offered by GAO Research, continually support systems such as Point-of-Sale (POS), Automated Teller Machines (ATMs), Multi-purpose Kiosks, Vending Machines and internal transactions processing, which are the back-office and ubiquitous transactions that are largely unnoticed by the general public. The majority of dial-up payment systems operate at low speeds, ranging from 300 bps to 2.4 kbps. Some full-featured dial-up terminals and back-office systems are capable of high data rates of up to 56 kbps. This conventional analog dial-up communication channel is the foundation and will continue to be the mainstay of today's businesses.

POS Market Facts

• 28 billion transactions are made using dial-up POS systems in North America, as well as multi-billion transactions in EMEA.
• In the United States, there are 10 million payment terminals, over 60% currently dial-up terminals.
• POS terminals have a long shelf life, on average of 8 years.