The banking industry continues to be a hotbed of patent innovation. Activity is driven by digitalization, enhanced security, operational efficiency, ever changing consumer expectations, and growing importance of technologies such as artificial intelligence (AI), Internet of Things (IoT), and cyber security. In the last three years alone, there have been over 129,000 patents filed and granted in the banking industry, according to GlobalData’s report on Robotic process automation in banking: POS printers. Buy the report here.
According to GlobalData’s Technology Foresights, which uses over 165,000 patents to analyze innovation intensity for the banking industry, there are 30+ innovation areas that will shape the future of the industry.
PoS printers is a key innovation area in robotic process automation
Point-of-sale (PoS) printers are the printers used primarily in retail environments for printing receipts and other documents related to payment transactions.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 20+ companies, spanning technology vendors, established banking companies, and up-and-coming start-ups engaged in the development and application of PoS printers.
Key players in PoS printers – a disruptive innovation in the banking industry
‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to PoS printers
|Company||Total patents (2010 - 2022)||Premium intelligence on the world's largest companies|
|Licentia Group||285||Unlock Company Profile|
|Seiko Epson||201||Unlock Company Profile|
|Intel||188||Unlock Company Profile|
|Memjet Technology||92||Unlock Company Profile|
|Flexiworld Technologies||62||Unlock Company Profile|
|Apple||38||Unlock Company Profile|
|Toshiba||23||Unlock Company Profile|
|Catalina Marketing||11||Unlock Company Profile|
|LG||9||Unlock Company Profile|
|Midea Group||6||Unlock Company Profile|
|Bixolon||4||Unlock Company Profile|
|Worldline||3||Unlock Company Profile|
|Anoto Group||3||Unlock Company Profile|
|PayPal||3||Unlock Company Profile|
|JPMorgan Chase||3||Unlock Company Profile|
|Capital One Financial||3||Unlock Company Profile|
|Diebold Nixdorf||2||Unlock Company Profile|
|Xiaomi||2||Unlock Company Profile|
|AB Dynamics||1||Unlock Company Profile|
|Cellfire||1||Unlock Company Profile|
|Protinus Infotech||1||Unlock Company Profile|
|Meituan||1||Unlock Company Profile|
|NCR||1||Unlock Company Profile|
|Zamtec||1||Unlock Company Profile|
Source: GlobalData Patent Analytics
Japanese electronics company Seiko Epson (Epson) is one of the leading patent filers in PoS printers. It offers a broad range of printing solutions supporting PC, mobile, and cloud-based PoS systems for the retail, hospitality and financial industries. OmniLink TM-T88VII and OmniLink TM-m50II-H are among the fastest and most advanced PoS thermal receipt printers offered by the company. Both the TM-T88VII single-station printer and the TM-m50II-H sleek and compact mobile PoS (mPoS) printer come with versatile connectivity features and have a print speed of up to 500mm/s.
OmniLink TM-H6000V receipt printing and check processing multifunction printer, EU-m30 kiosk PoS printer, and Mobilink wearable portable receipt printer are some of the other notable PoS printing solutions provided by Epson.
Licentia Group, Intel, and Memjet Technology are among the other key patent filers in the PoS printers space.
In terms of application diversity, Memjet Technology held the top position, while Anoto Group and Zamtec stood in second and third positions, respectively. By means of geographic reach, Licentia Group leads the pack, followed by Intel and Memjet Technology.
To further understand the key themes and technologies disrupting the banking industry, access GlobalData’s latest thematic research report on Banking.