The mPOS terminals market is anticipated to experience a remunerative growth phase over the coming years owing to the increasing popularity of card-based payments and the increasing adoption of mobile wallets in emerging economies.
The development of digital wallet solutions is impelling organizations to deliver cloud-based POS systems that are also compatible with digital wallet solutions. For instance, ePaisa, a prominent Mumbai-based mPOS app, provides omnichannel payment acceptance like digital wallets, cards, UPI, as well as QR scans. This empowers SMBs to run their business effectively, increasing profitability and efficacy.
Handheld mPOS terminals are likely to experience a high demand from small & mid-sized retail outlets as they focus on enhancing the shopping experience for their customers. These terminals will permit customers to make payment through debit cards, credit cards, mobile wallets, and EMV/chip cards, thereby reducing the payment processing time.
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The demand for mPOS hardware solutions, which includes tablets and handheld terminals, is expected to grow substantially in the near future. Hardware solutions are highly affordable and allow vendors to enhance customer experience. Leading hardware manufacturers such as Ingenico, PAX Global Technology, Verifone, and First Data are focusing on developing advanced tablets, handheld terminals, and mobile computers.
mPOS software solutions, on the other hand, can serve as standalone systems that is connected to the business’ bank account. The data is encrypted and stored on the cloud instead of the devices to better protect the data of cardholders.
Today, mPOS systems are widely used in retail, hospitality, healthcare, entertainment, warehousing, and restaurant applications. The retail sector includes convenience stores, supermarkets & hypermarkets, specialty stores, departmental stores, and discount stores.
The adoption of mPOS technology across the retail industry has increased significantly in recent years. Retail giants such as Apple, Inc., Urban Outfitters, Disney, The Home Depot, and Gucci, are increasingly implementing the technology to provide customers with a quicker and convenient payment experience. The growing expansion of the retail sector worldwide will positively impact the mPOS terminals market outlook.
List of the Key Companies that are Operating in the mPOS Terminals Market. They are as follows:
AURES Technologies SA, BBPOS Limited, Bitel Co., Ltd., Diebold Nixdorf, Incorporated, First Data Corporation, Fujian Newland Payment Technology Co., Ltd., Ingenico Group, Micros Systems, Inc., NCR Corporation, New POS Technology Limited, Newland Payment Technology, Panasonic Corporation, PAR Technology Corporation, PAX Technology, Inc., Posiflex Technology, Inc., Shenzhen Xinguodu Technology Co., Ltd, Shenzhen Zhengtong (SZZT) Electronics Co Ltd., Square Inc., Touch Dynamic, VeriFone Holdings, Inc., Apple, Inc., Hewlett Packard Company, Lenovo Group Limited, Samsung Electronics, Co. Ltd., AccuPOS, Agilysys, eMobilePOS, Epos Now, Intuit-GoPayment, iZettle, Lightspeed Retail, PayPal Here, Revel Systems, Inc, Shopify POS, ShopKeep POS, Toast, Inc., TouchBistro, Upserve-Groupon Breadcrumb, Vend HQ
In terms of the regional outlook, the mPOS terminals market in North America is likely to witness a notable growth over the next few years. The regional trends are being driven by constant technological advances and the widespread adoption of digital payment solutions. The widespread shift towards EMV chip-based card payments, mainly in the U.S., is expected to complement the regional outlook.
The use of mobile wallet solutions such as Apple Pay and Google Pay has gained massive popularity across the region. These solutions are ideal for customers looking for a faster and hassle free digital payment option.
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Table Of Content:
Chapter 4. mPOS Terminals Market, By Solution (Revenue, Shipment)
4.1. Key trends by solution
4.2.1. Market estimates and forecast, 2015 – 2026
4.2.2. Handheld terminal
18.104.22.168. Market estimates and forecast, 2015 – 2026
22.214.171.124. Market estimates and forecast, 2015 – 2026
4.3.1. Market estimates and forecast, 2015 – 2026
Chapter 5. mPOS Terminals Market, By Deployment (Revenue)
5.1. Key trends by deployment
5.2.1. Market estimates and forecast, 2015 – 2026
5.3.1. Market estimates and forecast, 2015 – 2026
Chapter 6. mPOS Terminals Market, By Application (Revenue, Shipment)
6.1. Key trends by application
6.2.1. Market estimates and forecast, 2015 – 2026
6.3.1. Market estimates and forecast, 2015 – 2026
6.4.1. Market estimates and forecast, 2015 – 2026
6.5.1. Market estimates and forecast, 2015 – 2026
6.6.1. Market estimates and forecast, 2015 – 2026
6.6.2. Convenience stores
126.96.36.199. Market estimates and forecast, 2015 – 2026
6.6.3. Department stores
188.8.131.52. Market estimates and forecast, 2015 – 2026
184.108.40.206. Market estimates and forecast, 2015 – 2026
6.6.5. Discount stores
220.127.116.11. Market estimates and forecast, 2015 – 2026
6.6.6. Specialty stores
18.104.22.168. Market estimates and forecast, 2015 – 2026
6.6.7. Other stores
22.214.171.124. Market estimates and forecast, 2015 – 2026
6.7.1. Market estimates and forecast, 2015 – 2026
6.8.1. Market estimates and forecast, 2015 – 2026
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