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PALO ALTO, Calif. -- Supermarket operators looking to leverage the rising cost of gas to create loyalty programs tied into fuel discounts will find more technology vendors available today that can help them, according to a study by research firm Frost & Sullivan.
The study, "Payment Systems in the Petroleum Market," reveals that the retail petroleum POS terminals market earned revenues of $710.2 million in 2006 and is likely to reach $975.8 million in 2009.
"Hypermarkets that have ventured into the retail petroleum business, have met with considerable success due to competitive fuel pricing, discounted prices linked to loyalty programs, and cross-merchandising," notes Frost & Sullivan research analyst Aravindh V. "This has created a rapidly developing segment for point-of-sale (POS) terminal manufacturers and they need to act fast to capitalize on the many growth opportunities available in this area."
According to the study, larger fuel POS terminal manufacturers with strong global presence are moving beyond mere payment terminals to provide highly comprehensive solutions for the retail petroleum industry. These solutions address both hardware and software aspects as well as meet customers' expectations by being a one-stop source for value-added applications such as loyalty programs, gift cards, in-store management, and Internet connectivity.
"Payment Systems in the Petroleum Market," includes an analysis of the key market drivers and restraints as well as industry challenges facing vendors in these markets. It also includes coverage of the two types of POS terminals used, namely stand-alone and integrated systems.