What’s driving the mPOS market Trends? | Key players are Fujian Newland Payment Technology Co., Ltd., NCR Corporation, Posiflex Technology, Diebold Nixdorf, and Ingenico Mobile Solutions

mPOS market is projected to surpass USD 55 billion by 2024. Lower installation costs as compared to the traditional POS systems will propel the mobile POS market growth. The traditional systems require a telephone connection or a SIM card in addition to the card swiping machine. On the contrary, the mobile systems are available at a fraction of the costs as compared to the traditional systems or affordable rental prices.

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3. mPOS Terminal Industry Insights

3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.2.1. POS terminal industry landscape, 2013 – 2024
3.2.1.1. Payment industry landscape
3.2.1.2. POS terminal market size and forecast, 2013 – 2024
3.2.1.2.1. North America
3.2.1.2.2. Europe
3.2.1.2.3. Asia Pacific
3.2.1.2.4. Latin America
3.2.1.2.5. MEA
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Manufacturers
3.3.3. System integrators
3.3.4. Service providers
3.3.5. Distribution channel analysis
3.3.6. End-user / Acquirer landscape
3.3.7. Vendor matrix
3.4. Technology landscape
3.4.1. Technology roadmap
3.4.2. Android and iOS mPOS
3.4.3. Biometric recognition technology
3.4.4. IoT technology
3.4.5. Mobile wallet technology
3.4.6. NFC technology
3.4.7. Smart card / EMV chip card capabilitie

Key Companies in Global mPOS market: -
• mPOS vendor profile
• Bitel Co., Ltd. Avaya
• Diebold Nixdorf
• First Data
• Fujian Newland Payment Technology Co., Ltd.
• NCR Corporation

Hardware mPOS 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.

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Hardware mPOS 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 mPOS 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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Europe mPOS market will experience a significant growth due to the increasing adoption of these systems in the BFSI sector. The banks in the region are adopting these systems to offer customers lesser transaction fees. For instance, in June 2016, Spire Payments has partnered with a leading European bank to implement SPm2 devices in the branches of the bank. The solution will allow roaming services to serve bank customers from anywhere within the branch.

Key players in the mPOS market include Fujian Newland Payment Technology Co., Ltd., NCR Corporation, Posiflex Technology, Diebold Nixdorf, and Ingenico Mobile Solutions. These companies are constantly competing to gain the majority share and implementing strategies such as product development for customer-specific requirements. For instance, First Data launched Clover Mobile, an mPOS solution that adds versatility and flexibility to the Clover Station. The solution allows more personal engagement by taking payment experience from off-the-counter to the floor.

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