Tag: mobile payments

Mobile commerce in India may see major changes in 2016

Beaconstac has released a new report concerning the developments that may occur in India’s mobile commerce space throughout 2016. The report highlights the impact that the country’s financial technology startups are likely to have on the growing sector. Notably, these startups can enable much more than payments with their technology, giving consumers better services that can make their lives more convenient. Demand for such services is growing among Indian consumers, as more people are beginning to base their daily lives on mobile technology.

Financial technology is beginning to make the lives of Indian consumers more convenient

The report shows that financial technology startups are beginning to introduce convenient services that allow consumers to call for taxi rides, order movie tickets, and pay their utility bills all through simple mobile applications. These startups are also making mobile wallets more widely available. Consumers can use these digital wallets to store financial information, making the process of mobile payments even more convenient. The availability of such services and wallets will likely encourage more consumers to participate in mobile commerce this year.

Hyperlocal mobile commerce is gaining momentum throughout India

Beaconstac’s report also predicts that the mobile commerce ecosystem is becoming “hyperlocal.” This refers to information and services that are oriented around a well-define community. Hyperlocal mobile commerce services are designed to connect consumers with retailers and other businesses within their immediate area. Companies interested in connecting with mobile consumers will need to find ways to engage their defined community, offering services and products that align with the needs of potential customers.

Businesses are beginning to use new technology to provide better services to consumers interested in mobile commerce

With changes being introduced in the mobile commerce sector, companies involved in this space are likely to see significant reorganization in the coming months. Companies are feeling the need to better adapt to the changing interests of consumers and this may come in the form of using new technology and better marketing strategies to connect with mobile-centric consumers.

A mobile POS refers to an electronic payment system that transfers funds using credit and debit cards at POS terminals located at retail outlets. Mobile POS systems are equipped with features such as Wi-Fi, RFID, VoIP, and smart card capabilities. These systems are highly versatile and are used primarily as data devices. In addition, they are used for sending digitized notes, checking prices, writing reports, sending and receiving invoices, capturing signatures, and managing assets at retail stores. The abovementioned functions can be used to exchange data within a store or other out-of-store locations through wireless applications. Mobile POS systems are also being used to send and receive faxes through emails (known as internet fax service). Mobile POS systems can also be coupled with Bluetooth-enabled printers to enable line busting for faster checkout during heavy traffic at retail stores. Thus, mobile POS systems help retailers to provide value-added services, with the requirements of speed and accessibility being accomplished.

Global Mobile POS Systems Market 2016 report has Forecasted Compound Annual Growth Rate (CAGR) in 9.6% value for particular period, that will help user to take decision based on futuristic chart. Report also includes key players in global Mobile POS Systems market.

The market report, titled Mobile POS Systems Market 2016, is an analytical research done by QY Market Research study based on the Mobile POS Systems market, which analyzes the competitive framework of the Mobile POS Systems industry worldwide. This report “Worldwide Mobile POS Systems Market 2016” build by the usage of efficient methodical tools such SWOT analysis, the Mobile POS Systems industrial 2016 study offers a comprehensive evaluation worldwide Mobile POS Systems market.

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The Mobile POS Systems market size is estimated in terms of revenue (US$) and production volume in this report. Whereas the Mobile POS Systems market key segments and the geographical distribution across the globe is also deeply analyzed. Various Mobile POS Systems market dynamics such as growth drivers, restrictions, and the future prospects of each segment have been discussed in detail. Based on that, the Mobile POS Systems market report determines the future status of the market globally.

The predominant factor driving the market growth is the increased penetration of mobile POS systems in the retail and hospitality sectors. The surge in need for mobility by the merchants in these sectors to ease the customer checkout process will tend to fuel the market growth during the forecast period.

“The increase in awareness about near-field communication technology among merchants has resulted in the growing adoption of POS terminals and fostered the growth of NFC-based payments,”.

“Besides providing easy and quick transactions, merchants can employ NFC for loyalty programs, marketing, and providing information about the products customers are likely to purchase.”

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Covered in this Report

This report covers the present scenario and the growth prospects of the Global Mobile POS Systems market for the period 2014-2019. The report covers the entire range of mobile POS systems used in the following end-user segments:

BFSI Sector
Government Sector
Hospitality Sector
Retail Sector
Transportation Sector

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Key Market Drivers

Increased Need for Mobility by Merchants
Increased Footfall in Retail Outlets
Proliferation of Non-cash Payment Methods
Increased Adoption of EMV Cards
Need for Effective Information Management

Key Market Trends

Increase in Penetration of Mobile Computing Devices
Increase in Penetration of NFC Technology
Increased Awareness about Mobile Wallet
Stringent Regulations for Secure Payments

Key Market Vendors

Datalogic SpA
Fujitsu Ltd.
Ingenico Group
Honeywell Scanning and Mobility
Motorola Solutions Inc.
Pax Technology Ltd.
VeriFone Systems Inc.

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