Page 17 - index
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RESEARCH, ANALYSIS & TRENDS
Mobile point-of-sales terminals are on the rise
Technology will continue to find its way into shops to The research also revealed that mPOS is playing a key
offer consumers highly personalized experiences. Mak- role in enabling smaller merchants in emerging mar-
ing extensive use of everybody’s small mobile assistant, kets, particularly across India, Southeast Asia and Latin
that enables omnichannel in the first place, we can ex- America, to accept card payments and grow their busi-
pect that in the end the bricks-and-mortar stores will nesses. Most of these local vendors offer low transac-
mainly fulfill the function of being the collection and or- tion charges and it is believed that this trend will contin-
der processing center, focusing on a premium customer ue, establishing market share, brand familiarity and
service. stickiness. This gives incumbents a slight advantage
over new entrants, but over time the market will tend
Smartphone and tablet-based mobile point-of sale towards lower and lower rates, driving out those who
(mPOS) terminals are expected to take on a more sig- either cannot offer tailored services or cannot afford to
nificant role in businesses as well. According to a recent operate at the cut-throat margins general payment pro-
study from Juniper Research, mPOS are expected to cessing will require.
handle 40% of all retail transaction value by 2021 and
the use of mPOS systems will account for one-third of Not to mention that customers will become gradually
terminals by then, mainly driven by larger retailers more and more price sensitive, so that most probably
adopting mPOS as part of an array of point-of-sale op- the labeling of items on the shelves will be done elec-
tions. tronically and in real-time corresponding to the requests
of the customer experience in the future. To stand out
The new research, Worldwide mPOS Markets: Devices, from the competition, retailers have to make use of
Technologies & Growth Opportunities 2016-2021, found special technologies such as e.g. RFID transponders
that mPOS will enable retailers to ‘queue bust’ in stores, that send personalized content on a customer’s
reducing lines and developing better targeted and more smartphone when entering the store or make use of
situational campaigns, as well as offering automatic known preferences and data from social media to bet-
ordering systems in restaurants.
ter understand and satisfy their customers. Technology
“We are seeing several vendors tailor their software to will lead to an optimization of inventory levels, reduce
the needs of specific industries, integrating mPOS ca- the workload and associated costs, and personalized
pabilities as part of broader cloud-based business soft- discounts and special offers in real-time might provide
ware,” said research author James Moar. “These addi- the right incentives to bring customers to a particular
tional services can then make use of the sales data di- shop.
rectly to manage inventory, monitor staff performance The whitepaper “mPOS ~ Payments Outside the Box”
and other functions, which can all add more value to a is available to download from the Juniper website to-
business and justify a higher margin.”
gether with further details of the full research.◊
By MediaBUZZ
17 MediaBUZZ Pte Ltd - Independant ePublisher for Asia
Mobile point-of-sales terminals are on the rise
Technology will continue to find its way into shops to The research also revealed that mPOS is playing a key
offer consumers highly personalized experiences. Mak- role in enabling smaller merchants in emerging mar-
ing extensive use of everybody’s small mobile assistant, kets, particularly across India, Southeast Asia and Latin
that enables omnichannel in the first place, we can ex- America, to accept card payments and grow their busi-
pect that in the end the bricks-and-mortar stores will nesses. Most of these local vendors offer low transac-
mainly fulfill the function of being the collection and or- tion charges and it is believed that this trend will contin-
der processing center, focusing on a premium customer ue, establishing market share, brand familiarity and
service. stickiness. This gives incumbents a slight advantage
over new entrants, but over time the market will tend
Smartphone and tablet-based mobile point-of sale towards lower and lower rates, driving out those who
(mPOS) terminals are expected to take on a more sig- either cannot offer tailored services or cannot afford to
nificant role in businesses as well. According to a recent operate at the cut-throat margins general payment pro-
study from Juniper Research, mPOS are expected to cessing will require.
handle 40% of all retail transaction value by 2021 and
the use of mPOS systems will account for one-third of Not to mention that customers will become gradually
terminals by then, mainly driven by larger retailers more and more price sensitive, so that most probably
adopting mPOS as part of an array of point-of-sale op- the labeling of items on the shelves will be done elec-
tions. tronically and in real-time corresponding to the requests
of the customer experience in the future. To stand out
The new research, Worldwide mPOS Markets: Devices, from the competition, retailers have to make use of
Technologies & Growth Opportunities 2016-2021, found special technologies such as e.g. RFID transponders
that mPOS will enable retailers to ‘queue bust’ in stores, that send personalized content on a customer’s
reducing lines and developing better targeted and more smartphone when entering the store or make use of
situational campaigns, as well as offering automatic known preferences and data from social media to bet-
ordering systems in restaurants.
ter understand and satisfy their customers. Technology
“We are seeing several vendors tailor their software to will lead to an optimization of inventory levels, reduce
the needs of specific industries, integrating mPOS ca- the workload and associated costs, and personalized
pabilities as part of broader cloud-based business soft- discounts and special offers in real-time might provide
ware,” said research author James Moar. “These addi- the right incentives to bring customers to a particular
tional services can then make use of the sales data di- shop.
rectly to manage inventory, monitor staff performance The whitepaper “mPOS ~ Payments Outside the Box”
and other functions, which can all add more value to a is available to download from the Juniper website to-
business and justify a higher margin.”
gether with further details of the full research.◊
By MediaBUZZ
17 MediaBUZZ Pte Ltd - Independant ePublisher for Asia
