Instead, just the software on these payment terminals needed to be upgraded.

But it will require payment terminals to offer NFC support.

As a result payment terminals in the stores in Ukraine did not work on Tuesday.

Trying to convince them to move to mobile-based payment terminals can be a big challenge.

It is not entirely clear at the moment how many U.S. retailers have upgraded their payment terminals.

The deals give PayPal potential access to almost 40 million payment terminals that are already installed in stores worldwide.

To accept Chip-and-PIN technologies, merchants will be required to either upgrade or replace all of their existing payment terminals.

VeriFone and Equinox provide payment terminals that are used in stores run by many of the world's largest retailers.

Key retailers in Britain including Tesco, the Co-op and fast-food chain McDonald's also are expected to install contactless payment terminals soon.

ZVT is a feature in around 80 percent of payment terminals used in Germany and nearby Austria and Switzerland, Nohl said.

That's especially true in situations involving unmanned payment terminals such as ticket kiosks at railway stations or payment stations at parking garages.

All of these businesses are involved in the supply and maintenance of electronic payment terminals and the resale of mobile phone minutes.

Owners can quickly open their card Passbook to use in retail stores and pay by tapping their phone at NFC payment terminals.

Apple Pay allows users to register credit cards on iPhones, and pay for goods and services by swiping the devices over contactless payment terminals.

Paypal's acquisition of iZettle, which would allow the U.S. payments processor to expand into the retail payment terminals business in international markets, closed in September.

Concardis offers card payment terminals as well as payment technology for e-commerce groups and is viewed as a non-core business by many of its owners.