Global PoS Mobile Card Reader Market 2018-2022
About POS Mobile Card Reader
Point-of-sale (PoS) systems are devices that ensure cashless transaction of goods and merchandise. These systems are used extensively by the retail and hospitality sectors, and MSMEs, to make transactions simpler and easier. The use of these systems enhances the overall shopping experience by reducing the payment processing time and providing vital information about the consumers' buying behavior to the companies that use such systems. They can also help retailers and MSMEs to manage information about their inventories, customers, and cash flow.
Technavio’s analysts forecast the global POS mobile card reader market to grow at a CAGR of 44.85% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global POS mobile card reader market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global POS Mobile Card Reader Market 2018-2022
Technavio recognizes the following companies as the key players in the global POS mobile card reader market: Ingenico, PayPal, Square, and Verifone
Other Prominent Vendors in the market are: Clover Network, Electronic Merchant Systems, Etsy, eWay, Ezetap, First Data Merchant Solutions, Intuit, iZettle, JUSP, LifePay, mSwipe, Miura Systems, PayAnywhere, Shopify, SumUp, and Tappr.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is incorporation of artificial intelligence. Digital and mobile payments are increasingly gaining traction in the supply chain of consumer goods and services. A whole new world of possibilities opens up when personalized connections between customer and merchant are made available through mobile technologies and artificial intelligence (Al).”
According to the report, one driver in the market is lower costs of mobile card reader devices when compared with conventional card machines. One of the primary drivers for the growing adoption of PoS mobile card readers is the low cost of the device in comparison to conventional card readers. For instance, an Ethernet credit card reader would cost $299; however, a PoS mobile card reader would, on an average, cost just $38.36. The comparatively lower cost of the device is what makes PoS mobile card readers a preferred option for small and medium enterprise (SME) businesses.
Ingenico, PayPal, Square, Verifone, Clover Network, Electronic Merchant Systems, Etsy, eWay, Ezetap, First Data Merchant Solutions, Intuit, iZettle, JUSP, LifePay, mSwipe, Miura Systems, PayAnywhere, Shopify, SumUp, and Tappr.
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