The mPOS Terminals in India are growing rapidly, along with other countries like China projected to reach US$8.8 billion by 2027, growing at a CAGR of 17.8%. North America and Europe are also growing at a fast pace, with the U.S. consistently registering significant annual growth rates. Japan, Canada, and Germany are also expected to see healthy growth over the next seven years.
As a result of the growth in online retail, mPOS terminals are quickly becoming popular. With the introduction of new technologies, they can offer merchants a host of benefits. For example, mPOS terminals make it easier to accept payments via mobile apps. This technology can streamline payment processes and reduce the cost and inconvenience of handling paper currency.
These mobile POS terminals work in the same way as conventional terminals, and can be used on their own or attached to another device to handle POS transactions. Mobile POS systems are also ideal for line-busting and self-checkout applications. Moreover, they are cheaper than their wired counterparts.
Another benefit of mPOS is that it does not tie the business to a single location. This means that the MPOS terminals can be used anywhere, which can improve customer service and boost sales. Furthermore, it can free valuable countertop space. This makes it a smart and cost-efficient choice for small businesses.
