mPOS Terminals Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The MPOS Terminals Market is Segmented by Type (Smartphone/Tablet and MPOS Device), End-Use Verticals (Retail, Hospitality, Healthcare, and Other End-Use Verticals), and Geography (North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa. The Market Sizes and Forecasts are Provided in Terms of Value in USD for all the Above Segments.

mPOS Terminals Market Size

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mPOS Terminals Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 44.26 Billion
Market Size (2029) USD 80.58 Billion
CAGR (2024 - 2029) 12.73 %
Fastest Growing Market Asia Pacific
Largest Market Americas

Major Players

mPOS Terminals Market Major Players

*Disclaimer: Major Players sorted in no particular order

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mPOS Terminals Market Analysis

The MPOS Terminals Market size is estimated at USD 44.26 billion in 2024, and is expected to reach USD 80.58 billion by 2029, growing at a CAGR of 12.73% during the forecast period (2024-2029).

The mobile POS or mPOS terminals or market denotes the mobile devices used to make transactions, including smartphones or tablets and dedicated payment devices, to make payments at the point of sale.

  • In this case, the payment is made by scanning a QR code, debit and credit cards, cash, or UPI transfers. The mPOS systems make it accessible for businesses to accept payment in different forms, making it easy for customers to pay conveniently. Since these systems can process all the payment modes and keep track of the transactions, they help reduce the overall cost and improve efficiency.
  • Mobile POS systems are gaining traction as they allow sales and service industries to conduct the transaction at the customer's location, adding flexibility to the whole process and improving customer experience. The growth in e-commerce globally and the entangling of brick-and-mortar and online retail practices are also expected to affect the future growth of the terminals. In fact, with the option of cash on delivery provided by major e-commerce platforms, a sudden surge in the adoption of mobile POS terminals has been recognized.
  • Data protection is paramount as mPOS devices may not have security protocols as robust as their POS counterparts, especially if using commercial-off-the-shelf (COTS) devices such as Apple or Android smartphones and tablets.
  • Towards the end of the forecast period, the market is anticipated to grow as vends increase their relevant offerings in response to the increased demand for contactless ease-of-use payment methods. As mPOS solutions are specially designed for handheld devices instead of desktop computers, the trend of smaller and more portable devices will augment the market's growth.

mPOS Terminals Market Trends

Increase in Adoption of Card and Online payment

  • The growth of fintech companies and digital-only banks is anticipated to increase competition in the global banking industry and increase the use of debit cards. In the United States, where credit cards are widely used, people in regions such as Latin America, particularly those with lower incomes, have traditionally made payments using cash. In recent years, there has been a transition in these regions as well, and more people are becoming comfortable with using credit cards to make purchases due to growing digital adoption.
  • The card-based payments at the point of sale worldwide include debit cards, credit cards, and bank-financing prepaid cards. Over the past few years, card-payment transactions through debit cards and credit cards at the point of sale are gaining popularity in all regions. The growth in card payments at the point of sale is primarily supported by various government initiatives, including the cap on interchange fees and the widespread expansion of POS infrastructure.
  • In June 2023, Tap to Pay on iPhone provides an easy, secure, and private way to accept in-person contactless payments at LVMH stores using iPhone - no additional hardware needed. At this year's Viva Technology show, LVMH announced that it would begin rolling out Tap to Pay on iPhone to select LVMH Group stores in the U.S. later this year, offering a seamless and secure payment experience. With Tap to Pay on iPhone, the LVMH Group client advisors can accept Apple Pay, contactless debit and credit cards payments, and various digital wallets in the store simply by using their iPhone and a partner-enabled iOS app - no additional hardware needed, regardless of the purchase amount.
  • Additionally, Australia has witnessed an upward swing in the number of EFTPOS terminals in the past two years. An increased number of airports across the country, as it has been proven to be the secure option of payment, it is expected to boost card payment acceptance at the physical stores in the country. For instance, in November 2021, In a movement to boost payments competition in the Digital Economy of Australia, EFTPOS proclaimed that the newest phase of its next-generation digital security technology had gone live with numerous banks in Australia merchants and FinTechs, that included Fat Zebra, Till Payments, as well as EFTEX.
  • Further, with the opening of more economic sectors, various POS companies globally are increasing their production to cater to the demand for the POS system at various physical stores. Such development is anticipated to further augment the growth of card-based payments during the study period.
mPOS Terminals Market - Number of Credit, Debit and Prepaid Cards in Circulation Worldwide (2017-2026)

Retail Segment is Projected to Showcase a Significant Growth

  • The retail sector is one of the main users of mPOS terminals. The segment is anticipated to hold a noteworthy share globally. The retail segment is gradually picking up with the digitalization of brick-and-mortar stores in different parts of the world. Tech and non-tech-savvy customers are similarly demanding in desiring a smooth transaction experience at their favored retailers.
  • The snowballing need for multiple mPOS systems among supermarkets, big retailers, and departmental stores with a vigorous and centralized system has pushed the retail sector's steady development in the mPOS terminal market. Due to its customer mapping application, the augmented emphasis on customer behavior has directed to amplified mPOS adoption.
  • Retailers are employing mobile POS software programs to remotely access their establishments and reduce the factors contributing to decreased revenues owing to the non-availability of staff. This gives the owners frequent updates on the work done within retail locations. It also makes tracking and organizing the products in physical and online marketplaces possible. Market leaders have introduced retail POS terminal software compatible with NFC and EMV compliance, enabling customers to make payments more quickly and securely.
  • The increasing number of retail stores across regions attracts customers because of the significant concessions and other services. Additionally, the Department of Commerce in the United States has projected the retail revenue to touch about USD 5.35 trillion in the United States itself by 2025. Nevertheless, customer retention has become the principal challenge to sustaining in the market. This competition upsurges the obligation to reinvent their business models to sidestep competition concerning the value and find the balance between investment in the latest technologies and income.
  • Furthermore, the digital economy is projected to expand rapidly, in that way creating significant demand. Temasek and Google predict that by the year 2023, online consumer spending across the top 6 economies will witness almost a quarter of a trillion dollars. The rise of e-commerce is fueled by rising disposable incomes, increased internet usage, improved logistical networks, and alternative payment methods.
mPOS Terminals Market - Number of Mobile (cellular) Subscriptions, in Millions, Worldwide, 2022- 2023

mPOS Terminals Industry Overview

The global mobile POS terminals market featured several prominent players, such as Fiserv, Inc., Hewlett Packard Enterprise Development LP, Ingenico, NEC Corporation, Oracle, Panasonic Holdings Corporation, PAX Technology, Posiflex Technology, Inc., QVS Software, Samsung Spectra Technologies, Toshiba Corp., VeriFone, Inc., and Zebra Technologies Corp.

  • In April 2023, a global payment technology company, in addition to a mobile point-of-sale front-runner, Miura Systems, proclaimed the introduction of its new Miura Android Smart POS payment device (MASP). Miura Android Smart POS payment device flawlessly improves mobile payments as well as value-added incorporations without difficulty or registered knowledge, opening the door to dealers deriving more value meaningfully in terms of lesser deployment, faster time-to-market, and maintenance prices, and access to real-time transactional information for healthier business understandings and policymaking.
  • In April 2023, The US Payments Forum published two new white papers related to the Point of Sale (POS). The first resource pursues to instruct industry shareholders on the differences between mPOS, TapToMobile, and traditional POS solutions. The second resource provides direction for user acceptance testing (UAT) to decrease production and acceptance problems following the deployment of Point of Sales Solutions.
  • In January 2023, IPCMobile launched a mobile point-of-sale (POS) platform that includes hardware, software, and pricing options from a single source. The new QuantumPay is designed to simplify and accelerate the deployment of mobile payment solutions while offering customers the option of bringing their processors.

mPOS Terminals Market Leaders

  1. HP Development Company, L.P

  2. Fiserv, Inc

  3. NEC Corporation

  4. SAMSUNG ELECTRONICS

  5. Panasonic Corporation

*Disclaimer: Major Players sorted in no particular order

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mPOS Terminals Market News

  • May 2023: CaixaBank announced the launch of a new app that allows contactless payments via Android devices in Spain. With the application launch, the bank has become the first Spanish bank that allows the service, which negates the need for a supplementary device.
  • January 2022: Ayden V. discovered an all-in-one mobile POS terminal containing the Android OS in the United Kingdom, United States, and European Union. One of the major advantages of utilizing this device is that it does not require barcodes or separate cash registers to conduct financial transactions, which can expand the efficiency of a company.
  • October 2022: German finance and technology firm Unzer launched a new mobile POS system meant for SMEs. The new product is called POS Go, which will enable merchants to take cashless or digital payments anywhere and the product also comes bundled with beneficial features such as digital receipt storage and accounting, in addition to real-time sales analysis.

MPOS Terminals Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Buyers

      2. 4.2.2 Bargaining Power of Suppliers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Assessment of the Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Reduced Cost of overall payment process and inventory management

      2. 5.1.2 Increase in Adoption of Card and Online payment

    2. 5.2 Market Restrains

      1. 5.2.1 Lack of Digital Infrastructure in Rural Areas

  6. 6. MARKET SEGEMENTATION

    1. 6.1 By Type

      1. 6.1.1 Chip and Pin

      2. 6.1.2 Chip and Signature

      3. 6.1.3 Others

    2. 6.2 By End-Use Verticals

      1. 6.2.1 Retail

      2. 6.2.2 Hospitality

      3. 6.2.3 Healthcare

      4. 6.2.4 Other End-Use Verticals

    3. 6.3 By Geography***

      1. 6.3.1 North America

      2. 6.3.2 Europe

      3. 6.3.3 Asia

      4. 6.3.4

      5. 6.3.5 Latin America

      6. 6.3.6 Middle East and Africa

  7. 7. COMPETETIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 HP Development Company, L.P

      2. 7.1.2 Fiserv, Inc

      3. 7.1.3 NEC Corporation

      4. 7.1.4 Ingenico

      5. 7.1.5 Panasonic Corporation

      6. 7.1.6 PAX Technology

      7. 7.1.7 SAMSUNG ELECTRONICS

      8. 7.1.8 Posiflex Technology, Inc.

      9. 7.1.9 SPECTRA Technologies

      10. 7.1.10 VeriFone, Inc.

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OUTLOOK OF THE MARKET

**Subject to Availability
***In the final report, Asia, Australia, and New Zealand will be studied together as 'Asia Pacific' and Latin America and Middle East and Africa will be considered together as 'Rest of the World'
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mPOS Terminals Industry Segmentation

The global landscape of payments and transactions is changing rapidly, owing to the growing enterprises and consumer propensity toward digital transformation and the proliferation of smartphones. Technological advancements in smartphones and digital payment cards have fielded mPOS at payment terminals and are fueling the market's growth.

The mPOS terminals market was segmented by type (smartphone/tablet and mPOS device), by end-use verticals (retail, hospitality, healthcare, other end-use verticals), and by geography ((North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa).

The market sizes and forecasts are provided in terms of value in USD for all the above segments.

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MPOS Terminals Market Research Faqs

The MPOS Terminals Market size is expected to reach USD 44.26 billion in 2024 and grow at a CAGR of 12.73% to reach USD 80.58 billion by 2029.

In 2024, the MPOS Terminals Market size is expected to reach USD 44.26 billion.

HP Development Company, L.P, Fiserv, Inc, NEC Corporation, SAMSUNG ELECTRONICS and Panasonic Corporation are the major companies operating in the MPOS Terminals Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Americas accounts for the largest market share in MPOS Terminals Market.

In 2023, the MPOS Terminals Market size was estimated at USD 38.63 billion. The report covers the MPOS Terminals Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the MPOS Terminals Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

MPOS Terminals Industry Report

Statistics for the 2024 mPOS Terminals market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. mPOS Terminals analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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mPOS Terminals Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)