According to research firm Smart Insights, the mobile point of sale (mPOS) market is expected to grow to 52M units deployed by 2018, representing a CAGR of 40 percent for the period 2013-2018. Much of this growth will be driven by mPOS adoption in emerging markets. The Smart Insights study predicts that by 2018, there will be 25 million mPOS units in Asia Pacific alone.
In a twist that has been noted in the media and by many industry observers, more e-tailers—those merchants that began online—are starting to open physical stores.
There are many challenges involved in taking a mobile point of sale (mPOS) solution global. The stickler is that the biggest challenges probably aren’t the ones you’re thinking of.
The recent high-profile security breaches involving point of sale (POS) systems in the retail sector didn’t involve mobile POS (mPOS), but no one in the broader electronic payments industry want to see breaches happen. We need to work together to eliminate breaches and ensure continued trust in electronic payments.
Mobile commerce (mCommerce) has reached a tipping point.
The overwhelming adoption of smartphones and tablets capable of running a wide variety of practical applications is driving the rapid growth of mCommerce. More than 1 billion people worldwide have a smartphone or tablet – and global business operations are being transformed as a result.
