Mobile Card Reader Market Analysis Report Regional Outlook with Key Players Electronic Merchant Systems, eWAY, Ezetap, Ingenico, LifePay, Mswipe, Miura Systems, PayAnywhere, PayPal and Verifone

Coherent Market Insights has announced the addition of the “Mobile Card Reader Market Size Status and Forecast 2026”, The report classifies the global Mobile Card Reader Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.

This report studies the global Mobile Card Reader market, analyzes and researches the Mobile Card Reader Speaker development status and forecast in North America, Europe, Asia Pacific, Latin America and Rest of the World. This report focuses on the top players in global market, like Electronic Merchant Systems, eWAY, Ezetap, Ingenico, JUSP, LifePay, Mswipe, Miura Systems, PayAnywhere, payleven, PayPal, Square, SumUp, and Verifone.

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Mobile card reader is an external hardware device that can be connected to a tablet or smartphones, for accepting payments from debit or credit cards, principally turning the smartphone into mPOS terminal. Growing digitization and increasing use of plastic money for transactions is expected to be the most prominent driver for the mobile card reader market over the forecast period.

"Ability to accept plastic money on the go is the prominent trend that will drive the industry growth"

Large number of micro, small and medium enterprises are emerging across the globe, specifically in the emerging economies. According to the Asia Pacific Economic Cooperation, around 97% of the enterprises in the APEC regions were small and medium enterprises, as in December 2013.

Mobile Card Reader Market Taxonomy

On the basis of technology, the global mobile card reader market is classified into:

-Magnetic stripe
-Chip and PIN
-Near field communication

On the basis of end users, the global mobile card reader market is classified into:

-Micro and small enterprises
-Medium enterprises
-Large enterprises
-Others

"Growing ecommerce transactions will present strong growth prospects"

Growth in penetration and adoption smartphones and other portable devices has led to considerable paradigm shift from website based revenue models to mobile app based models. According to Coherent Market Insights analysis, around 60% of the consumers utilize these portable devices for shopping and accessing other forms of on demand services, and also complete transaction through these devices.

"Growing concerns relating to security breach and loss of personal information is expected to hinder the industry growth"

Increasing number of fraudulent activities and security breaches over the past few years has led to major concerns for people’s personal information and credentials security.Moreover, the technology is in its nascent adoption stage and the consumer confidence for adoption of the technology is relatively low in comparison to other payment means.

"U.S. held the largest mobile card reader market share in 2016"

U.S. is expected to continue its industry share dominance over the next few years primarily owing to the government initiatives and increased consumer inclinations towards secure card transaction technologies. U.S. government agencies had begun the shift to the PIN EMV and chip payment standards in January 2015, as per the mandating by presidential executive order.

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