Dallas, Texas (PRWEB) September 04, 2013
MPOS technology is spreading at a very fast pace across the key economic regions of the globe, including developed and emerging markets with a number of startup organizations as well as established players in the payment industry who have chosen to venture into this sector.
Countries like the US, Canada, the UK, Germany, Japan and Australia are current hotspots for MPOS technology due to high investment as well as favourable market drivers such as rising card penetration, smart-phone and internet users. The adoption of this technology in emerging economies such as India, China, Brazil and Russia is also beginning to catch up. They are fast becoming key areas of future investment due to a combination of the positive macroeconomic factors and the favourable demographics.
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Recent technological innovations have allowed turning smart-phones and tablets, which run on platforms such as Apple’s iOS, Blackberry and Android, to be used as MPOS systems. Many providers of MPOS solutions provide dongles, which can be attached to a smart-phone through the headphone jack, a USB port or a proprietary connector, capable of reading card information.
During 2011-2012, the global MPOS industry registered significant growth in terms of the volume of terminals in operation, registering an annual growth of 111%. Driven by the high adoption in emerging markets, the industry is further expected to expand at a CAGR of 42.7% over the next four years.
The key factors that are driving MPOS growth are:
- Increases customer convenience
- Reduction of cost
- Higher sales
- Ability to tap seasonal demand
- Competitive differentiation
- Affordability by micro and small business operators
- Flexibility of payment on the go
Reasons to buy this report
Receive a comprehensive analysis of the size and future growth prospects of the technology market.
Understand analysis on the various market drivers and key challenges.
Understand detailed analysis of the business strategies adopted by key players in the market to expand their customer base and operations.
Review a global snapshot of MPOS technology and its adoption in various regions across the world.
Save funds by narrowing budget allocation for online and digital marketing.
Gain an edge by reviewing case studies showcasing the impact of MPOS adoption and detailed analysis of competitor landscape along with their business strategies.
Target audience
- Financial service & MPOS companies.
- Suppliers to financial service companies.
- Contractor research organizations.
- Trade body, academia or other industry observers
- Companies involved at any stage in the manufacturing, procurement and marketing process.
- Marketing and advertising agencies.
- Technology Companies.
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