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. 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.Market Coverage
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Market Coverage
- Segment Covered-
o By Solution
o By Deployment
o By Application
- Competitive Landscape: Ingenico Group, First Data Corporation, Oracle Corporation, NCR Corporation, Diebold Nixdorf among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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
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