mPOS Terminals Market Trends, Growth, Segmentation, Key Companies and Forecast by 2027
Category: #business  By Ronak Bora  Date: 2022-07-08
  • share
  • Twitter
  • Facebook
  • LinkedIn
mPOS Terminals Market Trends, Growth, Segmentation, Key Companies and Forecast by 2027

A notable rise in the usage of card payments is expected to give a major impetus to mPOS terminals market over the upcoming years. Growing penetration of smartphones in conjunction with increased consumer proclivity towards UPI payment methods has led to the transformation of payment landscape. The increasing card transactions across the globe is driving the adoption of mPOS payment solutions across various sectors including, hospitality, retail, healthcare, entertainment, etc. In March 2021, over 1.5 billion debit card transactions were recorded in the UK which represents an increase of 21.4% as compared to February 2021. The market size is projected to surpass USD 70 billion by 2027, cited the latest report by GMI Inc.

Get a sample copy of this research report @ https://www.decresearch.com/request-sample/detail/464

The mPOS terminals market growth is being further stimulated by the pivotal trends mentioned below:

Development of innovative solutions by market players

Various major players operating in the mPOS terminals market are inclined on developing advanced solutions that can suite the customer requirements and offer an enhanced experience. For instance, in 2021, Mastercard partnered with Global Payments Inc. and NMI to roll out the pilot of its first live Cloud Tap on Phone with Computer Engineering Group. This product is apparently Mastercard’s next generation acceptance product, where the software is hosted on Microsoft’s Azure cloud platform.

Increasing consumer preference for cloud-based mPOS

Cloud-based mPOS terminals are observing mounting demand especially among small stores and restaurants owing to their low cost of installation and maintenance. These terminals require efficient internet connection for carrying out payment transactions which reduce the need for costly infrastructure. The cost-effectiveness and space constraints encourage small merchants to deploy cloud-based mPOS systems.

Growing popularity of contactless payments

The massive popularity of contactless payment transactions due to the expansion of e-commerce sector and emerging trend of card-on-delivery has accelerated the deployment of mPOS terminals market. The consumers are now preferring contactless payment methods owing to more convenience and safety while performing transactions. Besides, the COVID-19 pandemic has also expedited the trend of contactless payments globally. For instance, effective from May 2020, the France government increased the limit on contactless payment from USD 35 to USD 59, on the recommendation of the European Banking Authority (EBA).

Increasing adoption in restaurants

Restaurants are increasingly adopting the mPOS terminals market as they intend to enhance the customers’ dining experience. A large number of cafes, restaurants, bars and pantries are now investing in innovative POS devices to facilitate faster transactions during peak hours. For instance, in 2020, Shift4 Payments launched a contactless QR code ordering solution for restaurants. According to the company, this system provides restaurants with a customized QR code that can be displayed on placemats, table tents, etc. The customers can scan the code using their phone to access the menu and place order. The order is then sent directly to the restaurant’s POS system.

Request for customization @ https://www.decresearch.com//roc/464

Burgeoning demand in hospitality sector of North America

mPOS terminals industry is witnessing significant growth in North America owing to the increasing adoption of POS terminals in the regional hospitality sector. The thriving travel & tourism industry has impelled the construction of various luxury hotels and resorts in the region. Citing an instance, in 2021, Wyndham Hotels & Resorts, Inc. announced the launch of a luxury hotel brand amid the recovery of luxury sector from the pandemic. Several independent casinos, hotels and resorts owners use mPOS solutions for providing the guests with a seamless experience and convenience while paying bills.

The industry will grow exponentially over the ensuing years as people around the world are showing great interest in more innovative and convenient ways of payments. This is indeed prompting numerous industrial sectors to invest in innovative POS solutions to meet customers’ demand. Increasing penetration of internet and smartphones will further strengthen mobile POS terminals industry landscape.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Scope & definitions

1.2    Methodology & forecast parameters

1.3    Impact of COVID-19

1.3.1    North America

1.3.2    Europe

1.3.3    Asia Pacific

1.3.4    South America

1.3.5    MEA

1.4    Data sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Executive Summary

2.1    mPOS terminals market 360º synopsis, 2017 – 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Solution trends

2.1.4    Deployment trends

2.1.5    Application trends

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/mobile-point-of-sale-mpos-terminals-market

About Us: –

DecResearch.com, powered by GMI, is an online aggregator of information on market research reports. The website provides comprehensive information as well as a detailed ‘Table of Contents’ for reports being regularly published by GMI. Via this platform, users not only get to answers to their questions about these reports, they also have an additional avenue to talk to the sales and research teams of GMI to learn more about the topics of their interest.

Contact Us: –

DecResearch.com

Website: – https://www.decresearch.com

Email: [email protected]

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

Read More >>

More News By Ronak Bora

Electrical Conduit Market Statistics, Regional Growth & Forecast To 2024
Electrical Conduit Market Statistics, Regional Growth & Forecast To 2024
By Ronak Bora

Global electrical conduit market is poised to witness appreciable growth in the coming years owing to increasing efforts towards containing electric supply faults, health hazards, fire, and other operational breakdown. Electrical wiring is directly ...

GCC Natural Gas Market Outlook 2024 By Industry Players
GCC Natural Gas Market Outlook 2024 By Industry Players
By Ronak Bora

GCC natural gas market has been a recipient of the concerns related to energy security and climatic changes due to increasing fossil fuel consumption. In a bid to strengthen the regional sustainable energy scenario, GCC countries including Kuwait, UA...

Europe Residential Boiler Market | Opportunities, Key Trends & Growth Analysis To 2024
Europe Residential Boiler Market | Opportunities, Key Trends & Growth Analysis To 2024
By Ronak Bora

The shifting focus of European countries toward energy efficiency is certain to act as a driving force for Europe residential boiler industry. The increasing awareness about the adverse effects of fossil fuel consumption for energy generation has bee...