New Financial Services market report from Timetric: "2020 Foresight Report: Mobile Point of Sale Technology "
Boston, MA -- (SBWIRE) -- 06/15/2013 -- Initially mobile point of sale (MPOS) technology was targeted at small enterprises who could not afford a conventional point of sale (POS) solution, either because of financial restrictions or because of the mobile nature of their business operation. However, developments in the retail and service sectors suggest that the technology is not only making inroads into large stores but areas not previously outlined for its use. Demand is being driven by the number of benefits the technology offers, such as improved levels of customer service. MPOS solutions process card payments at anytime and in any location. The global MPOS industry registered significant growth in terms of the volume of terminals in operation during 2011-2012. Competitors such as Square, iZettle, mPowa, SumUp, VeriFone, Intuit and PayPal are aiding the growth of MPOS technology by making it accessible to smaller enterprises. Over the forecast period, the volume of terminals is expected to increase, driven by growth in the retail sector, increased online trade, a rise in smartphone usage and card penetration.
View Full Report Details and Table of Contents
- Technology has revolutionized the way business is conducted and payment mechanisms have undergone a series of developments. Time is a critical factor for consumers and merchants, it is therefore essential that efficient payment solutions are developed. It is due to this that MPOS devices have been developed.
- MPOS solutions have high adoption levels in more developed economies such as the UK, France and Germany with firms such as VeriFone, Square, Intuit, iZettle, PayPal and Motorola leading the charge. Countries in the Asia-Pacific region such as India, China, Malaysia, Singapore, and Hong Kong are now emerging as new destinations for investment in this technology.
- Technological innovations have allowed turning smartphones and tablets, running on platforms such as Apple's iOS, Blackberry and Android to be used as MPOS systems. Many MPOS solution providers provide dongles capable of reading card information which can be attached to a smartphone through the headphone jack, a USB port or a proprietary connector.
- The market size of MPOS technology is growing at a fast pace. The key growth drivers are expected to comprise MPOS-enabled smartphones, investment in MPOS technology in the emerging economies of Asian and Africa, the large-scale adoption of MPOS technology by small enterprises and the clearance of regulatory hurdles.
- The retail sector is considered the main area of adoption for MPOS services due to the volume of transactions. Even though the sector's growth rate has been volatile due to the economic crises, the size of the sector has continued to expand.
- This report provides a comprehensive analysis of mobile point of sale technology along with key drivers and challenges
Companies Mentioned in this Report: Nordstrom, Nebraska Book Company, Gaylord Hotels, Motorola, VeriFone, Intuit, iZettle, Square, SumUp, The Home Depot
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Financial Services research reports at Fast Market Research
You may also be interested in these related reports:
- 2020 Foresight Report: Branding and Segmentation in Wealth Management
- 2020 Foresight Report: Social Media in Wealth Management
- Mobile Commerce 2012
- Mobile Money Opportunities in the BRIC Countries
- Wireless Communication Chipsets (Wi-Fi/WLAN, Wireless Display/Video (HD & WHDI), Mobile WiMAX & LTE (4G), ZigBee, 802.11, 802.15.4 & 802.16) Market in Consumer Electronics & Automation Applications, Global Forecast & Analysis (2012 - 2017)
- Near Field Communication (NFC) Market - Global Forecast & Analysis (2011 - 2016) by Products and Applications
- Geothermal Power - Global Market Size, Technology Analysis, Regulations and Key Country Analysis to 2020
- Smart Grid Market in Europe to 2020 - Advanced Grid Concepts and Intelligent Technology Pivotal to Achieving EU 20-20-20 Targets
- Caribbean Telecommunications Report Q2 2013
- Thin-Film PV - Global Market Size, Price Analysis, Regulations and Competitive Landscape to 2020