Mobile Point-of-Sale (mPOS) Market, By Solution Type (Integrated mPOS Solutions, Card Reader Accessories (Dongles, Sleeves)), By Technology (Hybrid Technology Solutions, EMV Chip and Pin, Magnetic-Stripe, Chip and Sign, NFC, Biometrics), By End-use (Restaurant, Hospitality, Healthcare, Retail, Warehouse/Distribution, Entertainment, Transportation (Public Transit, Others), Government, Consumer Utility Services), By Region (China, India, Brazil, Mexico, Rest of the World (RoW)) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
With the integration of the mPOS system into an existing business process, it allows the operation of cash registers, sales counters, check readers, product displays, gift items displays and electronic check readers, all in one place. This increases sales capacity and efficiency, reduces errors and incurs minimal operational costs. By reducing staffing requirements and increasing employee productivity, this is expected to increase overall profits. In the long run, this will prove to be a very cost-effective solution for businesses that want to increase their sales.
Market Dynamics:
Increasing investment in payment smart cards is expected to propel growth of the global mobile point-of-sale (mPOS) market over the forecast period. For instance, in May 2021, Privacy.com announced that it has changed its name to Lithic and raised US$ 43 million in Series B funding led by Bessemer Venture Partners to double down on its card issuing platform and new B2B focus.
Major players in the global mobile point-of-sale (mPOS) market are focused on adopting various marketing strategies to expand their customer base. For instance, in March 2020, Epson announced to present a complete suite of essential and innovative technology solutions at MURTEC, the multi-unit restaurant technology conference.
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