Mobile Point-of-Sale (mPOS) Market - Large Influx of New Players to mPOS Services Expected
A highly competitive market awaits those looking to provide mPOS services, says Transparency Market Research (TMR) in a new report. There are already a large number of players in the market. As a result, it is difficult for players to achieve substantial differentiators for themselves to set their services apart.
A highly competitive market awaits those looking to provide mPOS services, says Transparency Market Research (TMR) in a new report. There are already a large number of players in the market. As a result, it is difficult for players to achieve substantial differentiators for themselves to set their services apart.
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<strong>Mobile</strong> <strong>Point</strong>-<strong>of</strong>-<strong>Sale</strong> (<strong>mPOS</strong>) <strong>Market</strong> - <strong>Large</strong> <strong>Influx</strong> <strong>of</strong> <strong>New</strong> <strong>Players</strong> <strong>to</strong> <strong>mPOS</strong> <strong>Services</strong><br />
<strong>Expected</strong><br />
A highly competitive market awaits those looking <strong>to</strong> provide <strong>mPOS</strong> services, says<br />
Transparency <strong>Market</strong> Research (TMR) in a new report. There are already a large number <strong>of</strong><br />
players in the market. As a result, it is difficult for players <strong>to</strong> achieve substantial<br />
differentia<strong>to</strong>rs for themselves <strong>to</strong> set their services apart.<br />
TMR finds that Ingenico S.A., PAX Technology Ltd., and VeriFone Systems, Inc. were the<br />
leading providers <strong>of</strong> <strong>mPOS</strong> services in 2015 through a flurry <strong>of</strong> positively received<br />
innovative efforts. The former has also made heavy investments in making <strong>mPOS</strong> available<br />
across all three major smartphone operating systems: Android, iOS, and Windows and has<br />
also covered a landmark acquisition <strong>of</strong> ROAM Data, Inc. in 2012. Additionally, players such<br />
as VeriFone are investing significant amounts in<strong>to</strong> improving their cus<strong>to</strong>mer engagement<br />
practices and methods.<br />
Browse The Press Release: http://www.transparencymarketresearch.com/pressrelease/mposmarket.htm<br />
<strong>Large</strong> <strong>Influx</strong> <strong>of</strong> <strong>New</strong> <strong>Players</strong> <strong>to</strong> <strong>mPOS</strong> <strong>Services</strong> <strong>Expected</strong><br />
The number <strong>of</strong> mobile point-<strong>of</strong>-sale (<strong>mPOS</strong>) vendors has increased significantly over the<br />
recent past, thanks <strong>to</strong> the ease with which companies can establish their presence in this<br />
space. The concept allows small business owners <strong>to</strong> set up their own POS services <strong>to</strong> help<br />
them carry transactions with their cus<strong>to</strong>mers.<br />
They can do this without the need for heavy investments in support s<strong>of</strong>tware, further<br />
increasing the appeal <strong>of</strong> <strong>mPOS</strong> for vendors. These services are capable <strong>of</strong> speeding up<br />
transactions, simultaneously improving consumer experience and support, making <strong>mPOS</strong> a<br />
highly sought-after service by a large portion <strong>of</strong> global vendors in various industry verticals.<br />
NFC-enabled <strong>mPOS</strong> Out <strong>to</strong> Make a Mark With High Global Proliferation<br />
One <strong>of</strong> the greater trends for <strong>mPOS</strong> is the migration <strong>of</strong> <strong>mPOS</strong> services on <strong>to</strong> near field<br />
communication devices. Apple was the key driver for this segment after the introduction <strong>of</strong><br />
Apple Pay in 2014. After that, the launching <strong>of</strong> the now majorly used services such as the<br />
<strong>mPOS</strong> variants for PayPal and Google Wallet.<br />
Additionally, the use <strong>of</strong> NFC in <strong>mPOS</strong> is expected <strong>to</strong> increase even further after a wider<br />
scale <strong>of</strong> implementation <strong>of</strong> host card emula<strong>to</strong>rs. Most <strong>of</strong> the major names in the global<br />
banking industry, such as Barclays Bank PLC and ING Group have planned <strong>to</strong> create a
global usage <strong>of</strong> HCE <strong>mPOS</strong>. The same can be visible through its high scale implementation<br />
in China and India, where <strong>mPOS</strong> is generating high traction.<br />
India and Other Emerging APAC Nations Show Major Scope <strong>of</strong> Growth in <strong>mPOS</strong><br />
<strong>Sale</strong>s<br />
“As revealed by the World Bank, India had nearly 6.9 POS terminals for every thousand<br />
individuals. This low number <strong>of</strong> terminals, coupled with the smartphone sales boom, and the<br />
high population density <strong>of</strong> the country, have placed it at the <strong>to</strong>p <strong>of</strong> the charts for growth<br />
potential in <strong>mPOS</strong>,” says a TMR analyst.<br />
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A few challenges still exist for players in the <strong>mPOS</strong> market. For one, the Indian market for<br />
<strong>mPOS</strong> is largely unorganized. According <strong>to</strong> the IBEF, only 7% <strong>of</strong> the Indian retail market<br />
was organized in 2013. This makes India a highly potent untapped market for organized<br />
retail and the large scale introduction <strong>of</strong> <strong>mPOS</strong> technologies and services. Banks have<br />
already begun providing <strong>mPOS</strong> enabled cards, further increasing the scope <strong>of</strong> awareness and<br />
use <strong>of</strong> <strong>mPOS</strong>.<br />
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