March 6th, 2014 by Elma Jane
MPOS Mobile Point-of-sale.
Mobile point-of-sale is evolving as more merchants and consumers begin to accept payment through smartphones and tablets. The end of 2013 saw a number of acquisitions and new players shape the market, and all the signs are pointing to 2014 as the year in which MPOS goes mainstream.
Indeed, 2014 should be a defining year for MPOS. Data contained in the most recent MPOS Tracker as an indication that the major players are moving seriously to capture market share, educate merchants on the benefits of MPOS and work to make interaction with the systems simpler for consumers.
Existing companies bringing out new platform enhancement, new players popping in, partnership made it was more active, and it’s been very active in the past. This technology is going in the market, and where this industry is headed is upmarket and globalization. In order for each of these things to happen, it’s much more about the application programming interfaces and the platform that enables than the actual app itself.
A critical trend this year is global expansion outside of the U.S. This growth will help promote MPOS and push it into the mainstream as a vehicle for payment.
More adoption happening as major retailers start to integrate MPOS into their existing systems. Over time, consumers will start to use their mobile devices to make payments more frequently.
In the past, most of the activity has been in the small and midsize business space in the U.S. A lot of the use cases were niche markets, as this technology moves up to major retailers, it will become more visible to consumers that it’s not just a niche application, but it’s a regular, day-to-date encounter for them to run into MPOS.
As for the future, the signs point to continued growth both in terms of new players appearing and in market consolidation among the smaller players. However, some will have a tougher time than others as new MPOS companies seek both market share and relevance in the wider ecosystem.
Posted in Best Practices for Merchants, Credit card Processing, Credit Card Reader Terminal, e-commerce & m-commerce, Electronic Payments, Internet Payment Gateway, Merchant Services Account, Mobile Payments, Mobile Point of Sale, Point of Sale, Small Business Improvement, Smartphone, Visa MasterCard American Express Tagged with: accept payment, app, application programming interfaces, integrate mpos, major retailers, make payments, Merchant's, Mobile Devices, mobile point of sale, MPOS, platform, Smartphones, tablets
January 23rd, 2014 by Elma Jane
Commonwealth Bank of Australia (CBA) will now offer the embedded payments service to customers that use the Samsung Galaxy S4 and have CBA’s mobile banking app. MasterCard indicated that this development allows these customers to make payments at more than 1.6 million PayPass-enabled merchant locations around the globe.
MasterCard is just one major issuer that views embedded chips in NFC-enabled phones as the key to unlocking mobile payments globally. But, its news yesterday of how it is going to leverage its Samsung partnership puts a bit of a different spin on digital wallets and mobile payments.
“Our focus is on helping consumers shop and pay in a way that best fits their needs, across all of their devices,” Mung Ki Woo, group executive of mobile and industry alliances at MasterCard, said in a December 11 statement.
The move is part of MasterCard’s continued relationship with Samsung. Earlier this year, MasterCard teamed with the handset maker to offer exclusive deals and special discounts to Samsung Galaxy S4 users in Bangladesh.
Posted in Electronic Payments, Financial Services, Mobile Payments, Mobile Point of Sale, Near Field Communication, Smartphone, Visa MasterCard American Express Tagged with: commonwealth, devices, Digital wallets, embedded payments, make payments, MasterCard, merchant, mobile banking app, Mobile Payments, nfc-enabled phones, paypass, Samsung, shop and pay
