Mobile POS Will Comprise Nearly Half of POS Terminals by 2019
Mobile point-of-sale penetration is expected to grow fivefold and comprise 46 percent of all installed POS terminals in circulation by 2019, according to ABI Research. Micro-merchant adoption of mPOS is only one contributor to growth, with ABI saying vendors are increasingly concentrating on sales to mid-market and larger department stores. “ABI Research believes that both traditional POS and mPOS can grow together in tandem, co-existing, expanding the presence of digital payment acceptance,” says ABI analyst Phil Sealy. A separate Visa survey of 2,000 small businesses in Europe indicates that more than 25 percent of European small and midsized enterprises will be willing to try mPOS devices within the next six months. Still, issues about mPOS’ business viability, profitability, and sustainability persist, especially as mPOS pioneer Square struggles to endure amid contracting revenues. A market shakedown appears likely, with several dozen independent mPOS solutions currently vying for market share across Europe.
From “MPOS Set to Make Up Almost Half of All Point-of-Sale Installations Within Five Years”
Finextra (05/14/14)