If you’ve perused the archives around MMW lately, it probably didn’t take long for you to notice that the adoption of mobile devices for POS transactions is exploding worldwide, which is good news for PayAnywhere, Square, and the other fast-rising starts of mobile payments.
The boom is a result result of retailers and consumers getting more accustomed to retailers asking for payment on mobile devices.
According to IHL Group, a retail market research firm, shipments of new mobile POS device shipments are expected to grow more than 95% worldwide and will surpass 108% growth in North America in 2014.
But the larger enterprises predominantly use Windows for the POS; and thus, Microsoft Windows 8 and also more ruggedized devices have a much greater opportunity against Apple as the devices are adopted across hundreds or thousands of stores and must integrate with existing systems.
The move to Mobile POS in certain segments is radically changing the face of retail and hospitality, particularly mall-based retailers, said Greg Buzek, President of IHL Group. The number of devices used by Department Stores, Apparel and Shoe stores in particular will nearly triple this year.
Mobile POS began as a smaller retailer phenomenon in widespread adoption but has quickly been adopted by larger enterprise organizations, according to IHL. In addition, the impact on traditional POS installs locations varies widely by retail segment with greater adoption in segments that include apparel and less in those segments characterized by high-volume consumer goods.