The State of POS Terminals in Sweden: 2018 Update

Point-of-sale (POS) terminals are an essential component of modern retail, enabling merchants to accept card payments from customers. In Sweden, a country widely regarded as a leader in cashless payments, the number of POS terminals in use continues to grow year-on-year. In this blog post, we'll take a look at the latest figures on POS terminals in Sweden and what they mean for the country's retailers.

The Big Picture

As of the end of 2018, there were approximately 700,000 active POS terminals in Sweden - a 7% increase on the previous year. This marks a significant milestone for the country's cashless economy, with the number of terminals now exceeding the number of mobile phones.

So why the increase? It's likely due to a combination of factors. On the one hand, consumers are increasingly turning to card payments for everyday transactions. On the other, the Swedish government has actively encouraged businesses to transition away from cash to reduce the risk of crime and facilitate more efficient transactions.

The Rise of Mobile Payments

While POS terminals remain the dominant method of accepting card payments in Sweden, mobile payments are also gaining traction. In 2018, Swish - a popular mobile payment app - recorded a total of 41 million transactions, up from 29 million the previous year. This represents a significant shift in consumer behavior, with more and more people choosing to pay for goods and services using their smartphones.

One of the key advantages of mobile payments is convenience. With Swish, for example, payments can be made instantly using just a mobile phone number - no need for an additional app or hardware. For busy, on-the-go consumers, this simplicity of use is a major draw.

The Future of POS Terminals in Sweden

Looking ahead, it seems likely that POS terminals will continue to be a vital part of the Swedish retail landscape. As cash becomes increasingly marginalized, businesses of all sizes will need to invest in card payment infrastructure to keep up with consumer demand. At the same time, we can expect to see mobile payment solutions continue to grow in popularity.

In conclusion, the rise of POS terminals in Sweden is a reflection of the country's status as a leader in cashless payments. As consumers increasingly embrace card and mobile payments, businesses must adapt to meet their changing needs. The future is bright for the Swedish retail sector, as it continues to embrace innovation and drive the adoption of new payment technologies.