According to the ‘Mobile Point of Sale (POS) Business and Market Impact 2013’ report issued by research firm Javelin Strategy & Research, mobile POS expands the existing market for the card payment networks. Javelin estimates that mobile POS could expand current payment card acceptance by as much as 20 million firms if eligible firms started accepting payments. This impact could account for up to USD 1.1 trillion in annual new-card payments.
Finally, the report has explained that mobile POS has the capacity to attract all merchant tiers: from small self-employed cash-only vendors to the largest big-box US retailers. And the allure of mobile POS reaches both sides of the counter — the majority of consumers currently view mobile POS acceptance as very or extremely convenient. However, translating mobile POS’s strategic benefits and consumer appeal into broad adoption requires an understanding of both the crowded mobile POS acceptance marketplace, feature set and pricing, and the consumer segments to target for early adoption.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now