Consumers from Toronto to Dubai are getting their hands on smartphones, and mobile payment usage is on the rise as a result.
With more citizens in more countries than ever before embracing the convenience and utility provided by smartphones, mobile point-of-sale (mPOS) providers are looking to expand their customer base with new collaborations and investments designed to expand the company’s reach.
As example, UnionPay recently partnered with Mashreq to bring Quickpass mobile payments to customers in the United Arab Emirates. Meanwhile, Chinese mPOS platform PAX Technology recently acquired 60 percent of Italian payments provider CSC, in a move designed to expand the company’s market share in Europe.
And while PAX looks to expand further into Europe, payment provider Concardis is rumored to be looking for a new owner that will help the country expand influence outside of its native Germany and invest in new technology. According to reports, Bain Capital Private Equity is close to acquiring the company.
An American payments system abroad
For the February mPOS Tracker™ Feature Story, PYMNTS caught up with Kenoy Kadakia, director of product and capability development at American Express, to find out more about mobile payments and what it takes to bring them international. Kadakia told PYMNTS that American Express has learned that consumers in all countries want more than just a simple ability to pay for purchases with their mobile phones — they want to take advantage of features like loyalty and point reward programs that were typically associated with American Express credit cards.
To download the February edition of the mPOS Tracker, click the button below…
About The Tracker
The PYMNTS mPOS Tracker™ is your go-to resource for staying up to date on a month-by-month basis. The Tracker highlights the contribution of different stakeholders, including institutions and technology coming together to make this happen.