During 2021, significant changes took place in the mobile payment terminal market. In particular, enterprises of all sizes have finally moved from the planning stage to the active implementation of mPOS systems. In this regard, many new participants have appeared on the market, and the existing providers of mobile terminals have not only expanded the range of devices, but also equipped them with additional functions. From Apple Pay integration to inventory and sales management with add-on software, this is a partial list of mPOS mobile accomplishments over the past year.
1. Developing countries are increasing the number of mPOS terminals.
Expanding the network of points of acceptance of card payments in developing countries has become the main goal of mPOS terminal providers. It should be noted that in 2021 the opportunities of this market in Asian countries expanded significantly, including:
2. Development of Omni-channel in the field of mPOS terminals.
This year, omni-channel has grown as fast in mPOS as it has in other aspects of retail. Sellers of both offline and online stores saw the prospects for growth in audience and turnover in the implementation of mobile payment terminals, covering all channels of communication with customers. Including:
3. The mPOS space is growing with the proliferation of tablets.
Tablets have always been an integral part of the mPOS device industry. Tablets have provided merchants with the ability to not only run their business more mobile, but also accept payments through a variety of integrated platforms. Thanks to tablets, merchants now have access to payment options such as NFC, cryptocurrencies, Apple Pay, QR codes, etc. Integration with these solutions in 2021 was carried out by such leading providers of mobile terminals as First Data, SumUp, Square, ShopKeep, PayAnywhere, ROAM.
The next year, 2022, promises to be even more saturated with innovative solutions, including in the field of mPOS terminals. Especially in the context of the US transition to chip EMV cards. Mobile terminals will be improved, allowing you to make transactions anytime, anywhere, and for everyone.
1. Developing countries are increasing the number of mPOS terminals.
Expanding the network of points of acceptance of card payments in developing countries has become the main goal of mPOS terminal providers. It should be noted that in 2021 the opportunities of this market in Asian countries expanded significantly, including:
- Ezetap in India now serves over 6 million rural communities and is transforming mPOS terminals into micro ATMs for cash withdrawals, in addition to traditional payment acceptance functions.
- In China, mPOS startup Qiandaibao received a major investment in December 2021 to expand and improve its payment infrastructure. The volume of transactions processed per day by Qiandaibao terminals is $ 81.4 million.
- Swedish mobile payments provider iZettle has announced that it has 50,000 users in the Mexican market. Another European startup, SumUp, has focused on expanding its services in Brazil and other Latin American countries.
2. Development of Omni-channel in the field of mPOS terminals.
This year, omni-channel has grown as fast in mPOS as it has in other aspects of retail. Sellers of both offline and online stores saw the prospects for growth in audience and turnover in the implementation of mobile payment terminals, covering all channels of communication with customers. Including:
- The Amazon Local Register solution serves retailers and allows them to connect to existing Amazon accounts alongside local payment providers.
- Square has ditched its Wallet app and replaced it with Order, as part of the company's strategy to build a contactless customer service solution using its mPOS platform.
- Groupon has launched the Gnome iPad solution that integrates with its daily deals platform.
- Etsy, the largest online marketplace for artisans, has entered the mPOS market with its Sell card reader, designed to serve 35% of its million registered merchants.
3. The mPOS space is growing with the proliferation of tablets.
Tablets have always been an integral part of the mPOS device industry. Tablets have provided merchants with the ability to not only run their business more mobile, but also accept payments through a variety of integrated platforms. Thanks to tablets, merchants now have access to payment options such as NFC, cryptocurrencies, Apple Pay, QR codes, etc. Integration with these solutions in 2021 was carried out by such leading providers of mobile terminals as First Data, SumUp, Square, ShopKeep, PayAnywhere, ROAM.
The next year, 2022, promises to be even more saturated with innovative solutions, including in the field of mPOS terminals. Especially in the context of the US transition to chip EMV cards. Mobile terminals will be improved, allowing you to make transactions anytime, anywhere, and for everyone.
