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mPOS terminals market 32.84% CAGR by 2021 according to new research report

mPoS Terminals Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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The analysts forecast global mPoS terminals market to grow at a CAGR of 32.84% during the period 2017-2021.

Complete report on the MPoS Terminals Market Research Report spread across 70 pages, profiling 6 companies and supported with 30 lists of exhibits is now available at  www.rnrmarketresearch.com/contacts/?rname=1070691 .

The following companies as the key players in the global mPoS terminals market: Ingenico, PAMPOS TERMINALS Technology, SZZT Electronics, and Verifone. Other Prominent Vendors in the market are: NEC and Samsung.

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The latest trend gaining momentum in the market is adoption in contactless transactions. Contactless payment guarantees customers a quick, helpful, and secure approach to make payments, permitting sellers to enhance the in-store payment experience by diminishing the counter lines and offering a large group of loyalty opportunities.

It also diminishes the use of cash essentially as found in various early adopting countries. The rising use of contactless installment has assisted contactless payment frameworks with gaining market footing.

Transactions are done using NFC chip innovation display in transmitters (of cards, cell phones, and smartwatches) and readers. The card should be placed 5cm inside for a contactless reader to acknowledge payment.

The card details can likewise be entered in cell phones with NFC innovation to make installments.”

According to the report, one of the major drivers for this market is ease of implementation. The mPoS terminal is easy to operate, provided the vendor adheres to the operating requirements of the terminal.

It needs a handheld wireless device, which is preferably small and portable. The device used is mostly a smartphone that is combined with Bluetooth and swipe-and-chip-based payment devices along with a payment app, which must be mPoS enabled.

Access this Report at www.rnrmarketresearch.com/contacts/?rname=1070691 .

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Further, the report states that one of the major factors hindering the growth of this market is slow adoption rate. With the changing economic scenario, the complexity of business operations has increased.

Hence, merchants are forced to adopt new technologies to remain competitive in the market. However, companies are delaying their purchase of mPoS terminals waiting for an all-in-one technology that best suits their requirements and business model.

Thus, there is a trade-off between the technology upgrade and the cost of implementation. In developing countries, the adoption is slower than that of the developed countries because of the low importance attached to overall sales data integration.

This hinders the growth of the global mPoS terminals market.

A standard PoS system consists of a computer, PoS software, monitor, barcode scanner, cash drawer, receipt printer, weight scale, and sometimes credit/debit card readers. Mobile point of sale (mPoS) terminals are used to facilitate cashless transactions for sales of goods and are used by retailers to manage information related to their inventory, customers, and cash flows.

They are mainly used for retail sales management. mPoS terminal is a secure and convenient way to turn a mobile device, such as a smartphone or a tablet, into a payment or card terminal.

mPoS terminal allows the user to accept payments and perform the transaction directly without updating the cash register.

This report covers the present scenario and the growth prospects of the global mPoS terminals market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of mPoS terminals by vendors in the market.

Key questions answered in this report

What will the market size be in 2021 and what will the growth rate be?           

What are the key market trends?

What is driving this market?                                    

What are the challenges to market growth?

Who are the key vendors in this market space?

What are the market opportunities and threats faced by the key vendors?

What are the strengths and weaknesses of the key vendors?

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