mPOS Terminals Market Analysis
The MPOS Terminals Market is forecasted to grow at a CAGR of 12.73% during the 2025-2030 forecast period to reach USD 90.83 billion by 2030, from an estimated USD 49.89 billion in 2025.
The mobile POS or mPOS terminals or market refers to the mobile devices that are used to execute transactions, including tablets or smartphones and dedicated payment devices, to process payments at the point of sale. In that regard, the payment could be made through the scanning of a QR code, debit and credit cards, cash, or UPI transfers. These mPOS systems allow businesses to receive payments in various forms easily, thus making it convenient for customers to pay. Because these systems are able to process all the modes of payments as well as monitor the transactions, they reduce the total cost and enhance efficiency.
Mobile POS solutions are increasingly gaining ground since they enable sales and services businesses to process the transaction from the client’s site, infusing more flexibility into the entire process as well as enhancing the customer experience.
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The increased online shopping business in the world as well as the intertwining of physical stores and internet business practices are also anticipated to impact future terminal growth. Actually, the availability of cash on delivery as an option through leading e-commerce websites has brought about a steep rise in mobile POS terminal adoption. Security protection is a prime concern since mPOS devices will not necessarily offer security measures as strong as POS devices, particularly if commercial-off-the-shelf (COTS) devices like Apple or Android smartphones and tablets are used.
In the latter part of the forecast period, the market is expected to expand as vends enhance their applicable offerings in accordance with growing demand for contactless convenience payments. Since mPOS solutions are especially tailored for handheld devices rather than desktop computers, the pattern of lighter and more portable devices will boost the growth of the market.
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 US, where credit cards are so common, individuals in areas like Latin America, especially those from lower-income backgrounds, have always made payments in cash. In recent years, however, there has been a shift in these areas too, and more individuals are getting accustomed to making payments using credit cards as digital adoption increases. The point-of-sale card payments globally consist of debit cards, credit cards, and prepaid cards financed by banks. In the last several years, debit card point-of-sale card-payment transactions and credit card point-of-sale card-payment transactions are becoming increasingly popular in all the regions. The rise in card payments at the point of sale is mainly bolstered by a number of initiatives taken by the government, which include capping interchange fees and the extensive rollout of POS infrastructure.
In June 2023, Tap to Pay on iPhone offers a simple, secure, and private method of taking in-person contactless payments at LVMH stores with iPhone – no extra hardware required.
LVMH made the announcement during this year’s Viva Technology show that it will start deploying Tap to Pay on iPhone to certain LVMH Group stores in the U.S. later this year, delivering a smooth and secure payment experience. Through Tap to Pay on iPhone, LVMH Group client advisors can accept Apple Pay, contactless debit and credit cards, and other digital wallets in the shop by simply employing their iPhone and a partner-approved iOS app – no extra hardware required, with or without any purchase amount. Australia has also seen an uptick in the number of EFTPOS terminals over the last two years.
A higher number of airports throughout the nation, since it has been established to be the secure mode of payment, it is likely to enhance card payment acceptance at the retail outlets in the nation. For example, in November 2021, In a bid to increase payments competition within the Digital Economy of Australia, EFTPOS announced that the latest phase of its next-generation digital security technology had become operational with many banks in Australia merchants and FinTechs, including Fat Zebra, Till Payments, and EFTEX. Additionally, with more economic sectors being opened, numerous POS companies worldwide are ramping up their production to meet the demand for the POS system at different physical locations. Such progress is expected to further boost card-based payment growth over the period of study.
mPOS Terminal Market Share
Ingenico Group, VeriFone Systems, Inc., and Square, Inc. lead the market with approximately 10% market share. Square, Inc. is famous for its end-to-end suite of financial services and cutting-edge payment solutions. Square first gained momentum with Square Reader, a small, compact card reader that converted smartphones and tablets into payment terminals. Since then, Square has diversified its product offerings to encompass a series of mPOS devices like the Square Terminal and Square Register, targeting mainly small and medium enterprises (SMBs) from diverse industries like retail, food services, and professional services.
VeriFone Systems, Inc. has been providing secure electronic payment solutions. With expertise in hardware-based mPOS terminals and payment processing solutions, VeriFone caters to a worldwide customer base across retail, hospitality, transportation, and financial services sectors. VeriFone provides a comprehensive portfolio of mPOS products ranging from countertop terminals, mobile terminals, and integrated POS systems that can handle multiple payment methods like EMV chip cards, contactless payments, and mobile wallets. VeriFone is known for its strong security features and adherence to industry standards such as PCI-DSS.
mPOS Terminal Market Companies
Key players in the mPOS terminal market are
Diebold Nixdorf
Epicor Software Corporation
Ingenico Group
Micros Systems, Inc.
NCR Corporation
NEC Corporation
Panasonic Corporation
PAX Technology
Square, Inc.
VeriFone Systems, Inc.
Segmentation
Market, By Component
- Hardware
- Software
- Service
Market, By Product
- Handheld terminal
- Tablet
Market, By Deployment Model
- On-premises
- Cloud
Market, By Technology
- Biometric
- Traditional
Market, By Application
- Entertainment
- Healthcare
- Hospitality
- Restaurant
- Retail
- Convenience Stores
- Department Stores
- Supermarkets/Hypermarkets
- Discount Stores
- Specialty Stores
- Others
- Warehouse
- Others
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mPOS Terminal Industry News
In May 2024, VeriFone launched an all-in-one mPOS terminal with improved security features. It showcased its recent product offerings and improvements in security features. It seeks to deliver secure and user-friendly payment options that suit modern businesses and customers.
In April 2024, to further strengthen the omnichannel retailing experience, Square introduced new features that connect its mPOS devices with leading e-commerce platforms such as WooCommerce and Magento. It enables merchants to track both online and in-store sales through one interface and mPOS devices offering flexible and mobile payment solutions that can be integrated with e-commerce platforms.
