What’s Driving the Mobile POS Terminals Market : Revenue on the Rise | Diebold Nixdorf, First Data Corporation, NCR Corporation, MICROS Systems Inc, Square, Verifone, Agilysys, CitiXsys - iVend Retail, Epos Now, iZettle, Revel Systems, Shopify, Square,

Mobile POS terminals market, a major beneficiary of this change, is gaining a substantial traction in this transformative merchandizing landscape. The increasing penetration of EMV contactless payments in digitized financial transaction is undeniably boosting global mobile POS terminals market share. Payment service providers are scrupulously planning to bring forth an array of products that not only boost their day to day sales but also improve the consumer experience.

Concurrently, many central banks, payment networks and other governmental bodies across the globe are also implementing mobile POS systems by virtue of its extensive benefits like ease of installation, less settlement time, and scalability of solution. Reportedly, the number of users in mobile POS payments would be more than 970 million by 2022.

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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.

The key players covered in this study

1. Diebold Nixdorf
2. First Data Corporation
3. NCR Corporation
4. MICROS Systems Inc
5. Square
6. Verifone
7. Apple
8. HP
9. Samsung Electronics
10. Agilysys
11. CitiXsys - iVend Retail
12. Epos Now
13. iZettle
14. PayPal
15. Revel Systems
16. Shopify
17. Square
18. Toast, Inc.

The retail industry has been one of the major consumers for mobile POS terminals market, as smartphones and tablets are becoming increasingly ubiquitous and are being more rapidly used by retailers all over the world. This spurt in mobile usage has commenced to not only provide customers with easier payment options but also to compete with digital giants who have been, for a while now, gaining a substantial proportion of the retail industry share.

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Google swept the headlines when its digital payment platform Google Pay was launched. Under the latest rollout, Contis, a leading end-to-end provider of banking, processing and payment solutions in UK and Europe, has also announced that it is working with Google Pay to offer more customers innovative ways to pay. The company has integrated Google Pay into its end-to-end platform that processes payments in real-time. The aforementioned incidences thus validate the extensive contribution of the retail sector toward mobile POS terminals market share.

While the growth rate is quite impressive, security concern is the single most factor holding back smartphone payment adoption across some of the geographies, leaving a perpetual impact on the mobile POS terminals market share. Armed with an intent to overcome the challenge, many retailers are now implementing combo terminals that are capable of reading both EMV and NFC transactions.

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

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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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Global Market Insights, Inc.
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