The mobile point of sale (POS) terminal market is anticipated to grow at a CAGR 15.2% during the forecast period. The mobile POS terminals are incorporated mobile equipment such as smartphones and tablets which works as electronic POS terminals and this mobile equipment can be changed into a compensation terminal through the use of dongles. These mobile equipment are equipped with utilities includes Wi-Fi, smart-card, voice over internet protocol and radio frequency identification. Additionally, it is utilized to administer, send and receive invoices, assets, and dispatch digitizes notes. These abilities allow a mobile point of sale terminal to acknowledge payment through wireless applications.
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Technical advancement in payment technologies with a shift towards the master card, visa and euro pay is anticipated to boost the growth of the mobile POS terminal market during the forecast period. Moreover, factors such as the growing number of cashless transactions and an increasing need for digital payment is fuelling the growth of the mPOS terminal market. Mobile POS solutions aid users to conduct financial transactions at remote locations along with convenience. It is also capable of accepting payments through contactless cards, NFC enabled cards and EMV chip-enabled cards. Advancement in technology, growing internet penetration and increasing proliferation of mobile devices propel the adoption of mobile point of sale terminals.
Moreover, factors such as rising the demand for wearable and portable devices along with integration in the sales channel, growing adoption of android POS devices and cloud-based services are expected to fuel the mobile point of sale terminal market during the forecast period. Furthermore, multinational companies are setting up the mobile point of sale services technology. The mobile point of sale terminal is utilized by businesses to aid faster checkouts. These terminals offer faster checkouts during high volume a transaction that leads to better customer experience. It is integrated with mobile devices includes tablets and smartphones that provide advantages such as higher workforce efficiency, improve customer experience and decrease serving time and these terminals are connected to an inventory management system to enhance efficiency.
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Global Mobile Point of Sale Terminal Market Segmentation
By Type
- Cloud
- On-Premise
By End-User
- Retail
- Healthcare
- Hospitality
- Transportation
- Others (Government, Media & Entertainment)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
