Mobile
point-of-sale (mPOS) has rapidly evolved into a key retail tool that
can function as a point-of-sale register. It enables merchants of all
sizes to accept card payments, debit or credit card payments, scan
items, and issue bill receipts to customers anytime and anywhere in
the store. A global mobile point-of-sale (mPOS) market terminal
allows retailers to run their existing business applications on a
handheld device that is connected to the main system controller via a
wireless LAN network. The mPOS system offers end users friendly
user-interface solutions, which incorporate pen or touch input while
interacting with the standard list of POS peripherals required in the
retail industry.
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Mobile Point-of-Sale (mPOS) Market report at:
Keeping Customers
Close with Mobile Point-of-Sale (mPOS) Solutions
The
prime reason for the success of emerging models is the convergence of
the various needs of customers, merchants, banks, telecom operators,
and device vendors. This is achieved through the proper
implementation of mPOS in the industry. mPOS and its corresponding
software systems offer retailers several ways to improve and enhance
customer engagement, leading to improved conversion rates and
increased sales. Mobile point-of-sale (mPOS) typically refers to
specialized integrated devices such as smartphones and tablets that
are capable of functioning as electronic point-of-sale terminals.
These devices can be converted into payment terminals through the use
of sleeves or dongles. Advanced POS systems offer higher reliability
and durability as compared to their traditional counterparts such as
cash registers. Thus, mPOS solutions have resulted in a significant
reduction in the total cost of ownership (TCO).
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Release of Mobile Point-of-Sale (mPOS) Market at:
Demand for mPOS
Solutions Rising among SMEs
The
global shipment of mPOS hardware devices is estimated to exhibit a
CAGR of 47.0% during the period from 2015 to 2022. The growth in the
volume of mPOS shipments will be mainly driven by the large number of
merchants adding mPOS solutions to their existing POS solutions. As
the technology evolves and becomes more mature, mPOS solutions are
becoming viable solutions for merchants who are willing to completely
replace their traditional solutions by new technology. It is
predicted that globally, the installed base of mPOS will exceed the
installed base of POS terminals in the coming years.
According
to a research study by Transparency Market Research (TMR), the global
mPOS market is anticipated to reach 245.21 mn units by 2022. Growing
awareness of the advantages of mPOS systems, such as the lower cost
of ownership and easier portability, is driving the market for mPOS
solutions. The market is also growing due to the increasing demand
for mPOS solutions from a wide range of industries across various
regions.
Demand from
Varied Regions Boosting Global mPOS Market
While
in emerging markets, mPOS terminals promote financial inclusion, this
technology is a line-buster at retail stores in the developed
economies, shortening checkout lines and improving checkout
efficiency. Countries such as the U.K., the U.S., and Japan have
witnessed faster adoption of mPOS in the last few years. This
adoption is due to the large base of internet and smartphone users,
as well as other favorable conditions such as high penetration of
card payment facilities. Some other economies such as India, Brazil,
China, and Mexico are also becoming key areas of investment for
players involved in the mPOS ecosystem.
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Sample Research Report at:
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Market Research (TMR) is a global market intelligence company,
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exclusive blend of quantitative forecasting and trends analysis
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gather and analyze information.
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research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
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