Albany, NY -- (SBWIRE) -- 02/07/2017 -- Mobile card readers are a major innovation in the payment industry, which has persuaded several enterprises that were reluctant to accept card payments to adopt them. The main difference between mobile card readers and traditional point-of-sale (PoS) solutions is the hardware used. Mobile card readers are smaller and can be attached to mobile devices such as smartphones or tablets, unlike other payment terminals that are connected to a computer. They are easy to use, portable, and require less setup time to start accepting card payments.

Merchants or sellers need to sign up with a vendor for mobile card readers. These card readers are free, but, in certain cases, they are charged a small amount. Vendors provide a free mobile app that can be downloaded by merchants on their iOS, Android, or Windows devices. Card readers need to be plugged in to mobile devices through an audio jack or wirelessly using Bluetooth. In order to accept card payments, sellers can either swipe, insert the card, or use NFC technology and contact the service provider through the app. After multiple levels of security checks, payments are accepted by the card readers and the payment process is complete. Vendors charge a transaction fee for every transaction, and the remaining amount is transferred to the sellers' account within a couple of days.

The global mobile card reader market to grow at a CAGR of 68.47% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global mobile card reader market during 2016-2020. To calculate the market size, the report considers revenue generated from the shipment of card readers, transaction fees, and other fees such as monthly fees charged by vendors.

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The market is divided into the following segments based on geography:
- Americas
- APAC
- Europe

Technavio's report, Global Mobile Card Reader Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- Electronic Merchant Systems (ems+)
- eWAY
- EzeTap
- Ingenico
- Jusp
- LifePay
- Mswipe
- PayAnywhere
- Payleven
- PayPal
- Square
- SumUp
- Verifone

Market driver
- Large potential customer base
- For a full, detailed list, view our report

Market challenge
- Reaching out to potential customers
- For a full, detailed list, view our report

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Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

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