In order to provide innovative and fast processing payment services to consumers, retail POS terminals market players have been investing heavily in research and development activities and simultaneously, have been partnering with third party application developers. For instance, merely a few days before, Verifone, one of the renowned retail POS market behemoths had collaborated with several software developers such as Ecwid, vPromos, GiftFly, Homebase, and iMobile3 to design and generate non-payment software for its modern payment devices. Furthermore, in order to provide great experience for merchants and consumers, Verifone has decided to implement the M/Chip Fast technology of the Mastercard in all the types of next-generation payment products. The installation of this technology in POS devices is likely to provide convenient and speedy payment services to the merchants and customers for retail, grocery, hospitality, and fast food applications. The growing need for improved payment security along with quicker transaction speed is slated to promote technological developments in retail POS terminals market share.