From Jamaica to Canada, mPOS solution providers are seeing growth in adoption among cash-centric businesses. That kind of growth is slated to continue, with researchers predicting that by 2023, the volume of mPOS transactions will increase threefold over an estimated 28 billion in 2018.
In the latest Mobile Point-of-Sale Tracker, PYMNTS reports on how mPOS solutions are entering new markets around the globe, and how players in the space are working to make sure they also become more secure as they become increasingly popular.
Around the mPOS World
Payment software solution provider Alcinéo is one player putting a new focus on improving mPOS security. The company is integrating a Trustonic solution as part of an effort to better protect customer data and payment information processed through its mPOS apps, according to a press release. The integration is designed to enable personal information to be stored in an isolated environment away from the merchant’s device operating system, keeping sensitive information secure in the event that hackers tap into any weakness in the device’s software.
Meanwhile, other players in the space are unveiling their first mPOS forays. Such is the case for Sagicor Bank Jamaica Limited, which recently released what it claims to be the first mPOS solution available in Jamaica. Known as SWYPE, the mPOS device is a Square-like card reader that can be used with a smartphone or tablet and is intended for both large and small businesses.
Small businesses in Montreal, Canada are also getting access to a new mPOS offering. In a partnership with Mobeewave and Global Payments, National Bank of Canada introduced the Easy Pay mPOS solution, which aims to enable merchants to accept contactless credit card and mobile wallet payments.
Adopting mPOS for a Smoother Commute
Meanwhile, in the United States, mPOS is making its presence known among commuters in the Boston area.
Massachusetts Bay Transportation Authority’s commuter rail is equipping its conductors with mPOS devices this month. For years, riders had the option to either pre-purchase a ticket from a station kiosk, download and purchase a virtual ticket through a mobile app or buy a ticket onboard with cash. But when riders boarded unprepared and without cash on hand, it often meant conductors had to write out a post-payment form to request reimbursement.
To put payments on the fast track, Keolis Commuter Services looked to introduce an mPOS solution enabling card payments, customized to conductors’ specific needs for both quick transactions and valuable ridership data collection. In this month’s feature story, Keolis Vice President of Digital Solutions Ric Salvatici and Director of Revenue and Marketing Dave Walker explain what it took to put mPOS on the commuter rail.
For the full story, download the Tracker.
About the Tracker
The mPOS Tracker™ is your go-to resource for staying up-to-date on a month-by-month basis. The Tracker highlights the contributions of different stakeholders, including institutions and technology coming together to make this happen.