The Global Mobile Point Of Sale (POS) Terminals Market is estimated to grow at a CAGR of 18% during the forecast period. An mPOS (mobile point-of-sale) is a smartphone, tablet or dedicated wireless device that performs the functions of a cash register or electronic point-of-sale terminal (POS terminal) electronically. The businesses that need to take transactions on the go will benefit from mPOS. For example, any business that interacts with clients from outside the organization’s geographic location, such as market sellers or food trucks, would benefit from mPOS. To implement an mPOS, a business will need an internet connection, a credit and debit card reader, and an application downloaded to whichever device it intends to utilise for transactions, to establish a mPOS. After that, the user can download a POS app and connect the reader to their smartphone and an additional POS hardware, such as a barcode scanner and a cash drawer.
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With the use of a downloadable mobile app, any smartphone or tablet may be turned into a mPOS. When a business owner registers with an app, the vendor often gives the business owner a card reader, that connects into the audio jack on the mobile device to process debit/credit cards. Optional hand-held docking stations called sleds are available from some mPOS software vendors, allowing the mobile device to read barcodes and print receipts. The customer data is encrypted and stored in the cloud to protect cardholder’s info. A mPOS can be used as a stand-alone device that is merely linked to the business’s bank account, or it can be integrated as part of a larger, legacy POS system, depending on the softwareOne of the primary factors driving market growth is consumer acceptance of digital payments such as Amazon Pay and Google Pay.
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In India, for instance, Google Pay processed 960.02 million transactions in 2020, followed by PhonePe (868.4 million) and Paytm (260 million). As contactless payments become increasingly prevalent, businesses are adopting mPOS machines to accept payments directly from customers’ cellphones.
Global Mobile Point Of Sale (POS) Terminals Market – Segmentation
By Solution
Hardware
Software
By Deployment
On-premise
Cloud-based
By Application
Entertainment
Healthcare
Hospitality
Restaurant
Retail
Warehouse
Others
Global Mobile Point Of Sale (POS) Terminals Market – Segmentation by Region
North America
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Company Profiles
Ingenico Group
First Data Corporation
Oracle Corporation
NCR Corporation
Diebold Nixdorf
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