Global Mobile Point-of-Sale Solutions (mPOS) Market and landscape

We live now in a mobile-driven era where the e-commerce industry and cloud-based solutions are at the heart of numerous groundbreaking innovations, excitements and transformations.

 

One can then observe that, when it comes to Mobile Point-of-Sale Solutions (mPOS) Market and landscape: 

• The increasing mobile internet penetration enables the users to quickly process mPOS and close the sales process,

• The growing usage of cloud-based solutions is expected to fuel the mPOS market,

• Access to customer information and product data across multiple platforms is critical,

• Information such as payment preferences, and buying behavior fuel this market,

• mPOS enable merchants to store a large amount of data that can be accessed from anywhere across the globe by authorized personnel,

• SMBs were the early adopters of mPOS technology,

• Limited selling and low transaction volume of SMBs is making it difficult for mPOS vendors to sustain themselves in the market,

• Vendors are attracting large enterprises with products and pricing strategies to drive more payment volume and extract higher revenues,

• The ability of mPOS to accept card payments regardless of location or sales point has captured the interest of businesses,

• SMBs, that did not have the necessary hardware to accept card payments, are increasingly adopting mPOS at a large scale,

Connectikpeople.co also recalls that, major e-retailers such as Amazon, Alibaba, and eBay do not require terminals such as mPOS for billing and customer data gathering as they have their own payment gateways that enable the customers to make payments directly.

So, many new market entrants are adopting this model; a real menace against the sales and growth for mPOS.

According to Research and Markets, merchants prefer mPOS that offer a personalized and interactive experience to the consumers.