The increasing need for cashless payment and ease of transactions due to which the contactless payment has gained prominence in the payment technologies have result in the growth of the mobile point of the sale terminal market. There has been a rapid increase in cashless transactions during the forecast period. Contactless payment along with payment-enabled mobile, contactless card, and wearable device at a contactless checkout terminal has witnessed growing adoption across the globe. Furthermore, growing internet and smartphone penetration is driving the growth of the mobile POS terminal market during the forecast period.

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Contactless payment systems such as smart card, credit card, debit card, and other devices that include smartphones and other mobile devices that uses NFC (Near Field Communication), RFID (Radio Frequency Identification), for instance, Apple pay, Merpay, Fitbit pay, Google pay or other bank mobile application which support contactless technology for making safe and secure payments. As per the UK finance in July 2019, UK cardholders made 1.5 billion debit card transactions, 8.9 % more than in July 2018. This reflected a total spending of $50.7 billion. In July 2019, UK cardholders made 314 million credit card transactions, 9.1 percent more than in July 2018. This reflected a total spend of £17.9 billion.

In October 2019, SBI has launched the ‘SBI Card Pay’ contactless mobile payment facility for the holder of a credit card. It is payment feature that is based on the technology of Host Card Emulation (HCE) for faster and safer and secure card payment by using mobile phones. It was indented to redefining the payment experience for the customers by using cutting edge technology such as HCE. Growth in smartphone penetration, the addition of contactless cards along with existing cards and advantages regarding contactless payment include convenience and flexibility fuel the growth of the mobile point of sale terminal market during the forecast period.

The key market players include Hewlett-Packard Co., VeriFone Systems, Inc., MICROS Systems, Cisco Systems, Samsung Electronics Co. are focusing on the mobile point of sale terminal. For instance, in April 2019, Hewlett Packard Co had announced that it has enabled the launch of the Saudi payment that is the first local mobile payment system for Saudi Arabia along with the enhanced application which aids Visa payments through mobile. This solution builds HPE synergy and by using HPE 3PAR and HPE synergy image streamer that offers agile infrastructure and the largest levels of application performance.

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Global Mobile Point of Sale Terminal Market- Segmentation

By Type
• Cloud-Based
• On-Premises

By End-User
• Retail
• Healthcare
• Hospitality
• Transportation
• Others

Global Mobile Point of Sale Terminal Market – Segment by Region

North America
• US
• Canada

Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World
• Latin America
• Middle East Africa

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