Mobile POS Terminals Market Is Moving Fast | Here Is What You Need To Know ; Key Companies are Diebold Nixdorf, First Data Corporation, MICROS Systems, Square, Verifone, Agilysys, Epos Now, iZettle, PayPal, Revel Systems, Shopify, Square

With the gradual replacement of hard cash with virtual currency in an era of digital disruption, mobile POS terminals market has rapidly gained traction in the electronics space. One of the most prominent drivers responsible for the growth of this vertical is the increasing realization among businesses that using cash is a highly expensive option. Businesses, especially those in the tight margin retail industry, have come to realize how cost efficient mPOS terminals can be in addition to contributing toward a more fulfilling customer experience.

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The commercialization potential of the entire business space is further coherent from the estimates brought forth by Global Market Insights, Inc. forecasting the worldwide mobile POS terminals market to exceed a valuation of USD 55 billion by 2024. While the growing inclination toward real-time payment modes create new challenges, joint venture and collaborative approaches can allow industry players to pool competencies. In fact, the trend has already established its presence in the competitive arena of the business space.

Key Companies Operated in Mobile POS Terminals Market –

Diebold Nixdorf, First Data Corporation, NCR Corporation, MICROS Systems Inc, Square, Verifone, Zebra Technologies, Apple, HP, Motorola Mobility (a Lenovo Company), Samsung Electronics, Agilysys, CitiXsys - iVend Retail, Epos Now, iZettle, PayPal, Revel Systems, Shopify, Square, Toast, Inc., TOSHIBA Global Commerce Solutions, Inc

Technology has always been a key enabler of advancements across the finance-oriented industry verticals. Mobile POS terminals market is probably one of the largest recipients of the transformed payment landscape. The pay-tech revolution is allowing modern digital payment modes to address payment efficiency, speed, risk detection as well as user experience, providing SMEs the access to tailor their operations in sync with the latest advancements.

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In this regard, cloud based mobile POS terminals market is gaining a mass popularity across the globe primarily on account of its enlarged storage facility, ease of operation, and better functionality. Incidentally, this has encouraged a host of new vendors to include SaaS-based solutions in their offerings like Toast, Square, Springboard Retail, and Touchbistro.

Hardware mobile POS terminals market is expected to gain momentum over the forecast timespan due to the increasing penetration of smart handheld devices such as smartphones. The handheld terminals are witnessing a large-scale adoption due to low costs and the easy setup of these systems. Also, these systems do not require a high degree of technical expertise for their operation. The retailers are buying multiple devices for their delivery personnel or installing multiple devices on their billing counters to enhance the customer experience.

The mobile POS terminals market in the retail sector is expected to witness an upward growth due to the significant expansion of the e-commerce sector. The retailers are implementing these devices to enhance the shopping experience for the customers. Features, such as geolocation, allow the sellers to send sale or discount alerts, coupons, and codes to the customers. These solutions also help the retailers to build customer profiles that store and analyze the purchases and preferences of customers.

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All in all, with the remarkable proliferation in mobile technology and the growing consumer awareness toward contactless payments, mobile point of sale terminals industry is likely to be one of the most challenging yet remunerative business spaces to watch unfold.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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