Alok Londhe

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mPOS: Future Market Growth and Enterprise Benefits Infographic

mPOS: Future Market Growth and Enterprise Benefits Infographic“J Scalefusion

Discovering mPQOS
Facts | Trends | Market InsightsAs modern shoppers, their expectations and mobile technologies are constantly evolving, the payments industry with newer techniques cannot fall behind. The role of the mobile point of sale is undeniable in the contemporary shopping/purchase journey scenarios. Ideally, an mPOS is a mobile device in the form of an iPad, Android tablet, smartphone or a single-use wireless device that can serve the purpose of stationary cash registers and conventional brick & mortar payment terminals. These are often paired with POS hardware such as barcode scanner, credit/debit card reader and cash drawer.

The flexibility and mobility of mPOS devices deliver several business benefits including faster check-out time, quicker payment cycles, improved customer experience, and a holistically effective sales operation. Mobile POS enables organizations to simplify and fasten the financial transactions, which directly improves customer experience and service quality by reducing wait times and offering multiple cashless and contactless payment options. On top of that, mPOS comes with opportunities facilitating inventory lookup, access to customer data, value-added services, upselling and cross-selling.

It simply reduces unnecessary chaos, complications, and frustrations with the help of on-spot, flexible and instant checkout options. The mPOS proves to be of many advantages for offering on-the-go cashless transactions for individual business-owners like grocery store runners, solo vendors and other mobile businesses such as food trucks, sports venues, flea markets, repair services and so on. For small business owners, mPOS is a cost-effective alternative to electronic and traditional registers or other expensive software systems.

Take a look at the following infographics to gain quick insights about the latest trends, facts, and statistics defining the space of mPOS.

“J Scalefusion | Mobile Device Management

       
 

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Discovering mPOS

Facts | Trends | Market Insights

The mPOS revolution is here to stay and it is hercely dominating the entire

nt business gains. It is

   
 
 

cape with its expansive use cases and prc
on top of all the latest information and aspects that are

   
 

=

 
 

no. Let's have a look at what the facts and statistics say about it

 

Top 5 industries using mPOS

   

Ly BB
Retail Healthcare Entertainment Logistics

 

Top reasons for high mPOS adoption

* Universal acceptance of EMV card standards
o Rise in high-value card-based transactions & payments,

« Integration of technology solutions like VoIP,
RFID & biometric ID

o Governmental efforts in promoting cashless
transactions via digital payments

© Automation of value-added services by the
mPOS providers

o Low cost implementation and installation
of mPOS systems

Growth drivers for mPOS industry
= Bi

impact of EMV card Growth in contactless
invasion across the U.S, payment in the UK regulations across kurope

 

increased number of Expansion of RFID Proliferation of retail
online payments in China tagging in Japan industry across UAE

infrastructure development
in Latin America

Top 5 countries in terms of mPOS transaction value
(as per numbers stated in September 2019 report)

USD 793,665M USD 116,037M USD 14,965M
China United States United Kingdom

USD 9,066M USD 9,653M

Brazil India
—

mPOS users category in 2019

Age-Wise

18-24 years: 25.25%
25-34 years: 37.37%
35-44 years: 23.23%
45-54 years: 12.12%

55-64 years: 2.02%

Gender-Wise

Male users Female users

Income-Wise

37.0%

Low-income users
Mid-income users

High-income users

mPOS: Top current stats and future trends

dz 30%

From Annual mPOS
2018 to 2024 transactions to surpass

18% growth in CAGR USD 87BN by 2023

 

 

p

 

 

 

 

 

 

 

 

 

 

Avg. cost of mPOS device to fall from

USD 40 in 2018 to USD 33 in 2023

Total transaction value in mPOS section

From USD 745,796M in 2019 to
UsD 2,137,510M in 2023

Total number of mPOS users will increase from

1133.3Min 2019 to 1657.2M in 2023

Global shipments of mPOS mPOS industry
units to reach to surpass

[orl]

I
35M by 2024 USD 55BN by 2024

Growth in user penetration

15.4% in 2019 to 21.7% in 2023

 

Top concerns around mPOS operation

Malware threats, device theft and hacking

eo Complex integration with multiple components

o Insufficient battery life for extended use

© Irregular security patch update

© PCI compliance and Wi-Fi network configurations

o Effective encryption of mPOS devices

How a Powerful MDM Can Drive Effective
mPOS Management

« Simplify device enrollment by OEM and ODM partnership

« Secure policy deployment for individual devices or device groups
BRR A a a er

« Easy deployment of enterprise apps

BO TR CT Ld

YL a a TE RL any

PY Tp e Ry Np wey

Automating IT tasks and compliance regulations

 

“J Scalefusion | Mobile Device Management

 

Check out Scalefusion MDM and its powerful features to seamlessly manage your mPOS devices
at diverse locations. Perform a number of critical tasks to secure and supervise mPOS devices
from a remote and unified dashboard

 

Sources:

 

tch com/press- release/mo

size-poised-to-touch-usd-813-billion-by- 2026-2019-05-07

 

https
bile p
https

   
  

 

t-of-sale-mpos- terminals marks
globenewswire.com/news-re-

9/10/29/1936815/0/en/POS Terminals- Market to reach-over- 140. billion by 2025 Global Mark

 

ease/2

 

       
 
 
  
 
    
   

   

et-n: ml

https s system/10 best retail pos systems

https nsights com. mpos-termi industry-to-see-good-times-ahead-0001
https nals market

https market-globalRevenue
https
ease.

vire.com/news re
0/29/1936815/0/en/POS-Terminals-Market-to-reach-over- 140-billion-by- 2025-Global-Mark

 

https: / www marketwatch com/press-release/mpc

026 2019
)/mpos- terminal
I market growth trends revenue key suppliers demands and detailed insights on upcot

t-statis-
tics show 188 cay

  
 

  
  

fus-

 

com/market rescarch/product/ 1018099 pos terminals and mpos- solutions,
niperresearch com/document-library/white-pa-

rdware software empower: retail

paymentstoday mpos-devic-

almost-25-of-pos- transactions by-2023,

market

 

 

ews/st

 

€5-to-account 1
tps: //w
bile point-of-sale

   

h.com/press-release/juniper-research-mo
devices to-account-for-akmost- 1-in-4-pos- transactions by 2023-2018-06-20
5/why-mpos-adoption-c

 

   

paymentstoday h-retailers

 

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                                mPOS: Future Market Growth and Enterprise Benefits Infographic By Android MDM


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