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Mobile POS Reaches 17 Percent of Market
Wednesday, December 4, 2013 6:55 AM

Mobile point of sale terminals are projected to reach 46 percent market penetration by 2017, up from the 17 percent share of the point of sale terminal market that mobile systems held in 2012, according to a whitepaper by Mobey Forum.

The number of mobile point of sale terminals grew 111 percent to 9.5 million terminals from 2011 to 2012, according to the whitepaper, entitled “MPOS Impact: Shifting the Balance of Power.” By 2017, the number of terminals is expected to reach 38 million, the association, which focuses on spreading bank-driven mobile financial services, said in the report.

The mobile POS market can be generally divided into four business models:

  • specialized, custom-built hardware, such as Infinite Peripherals' mobile device sleeves used by employees at Apple retail stores
  • payment transaction services like Square (who has partnered with Intuit to provide QuickBooks accounting software integration)
  • small business platform suites, such as ShopKeep and NCR’s point of sale system (bundled packages typically including value-added services like customer relationship management, reporting and accounting, business analytics, marketing and loyalty and inventory management)
  • transaction-driven marketing services, like LevelUp (with its Interchange Zero model, waiving transaction fees in return for marketing agreements)

 

(Source: Payments Source, Dec. 2, 2013)