Visa: European MPOS Boom Coming

According to a new study by Visa Europe, the number of small businesses integrating mobile point of sale technology is on a sharp upswing and is set to take off dramatically in 2014, reports Finextra.

Old concerns about the complexity and expense at accepting credit cards appear to be giving way among Europe’s independent entrepreneurs, as mPOS is demonstrated consistently to be fairly straight-forward and relatively inexpensive to adopt. Among users surveyed in France, the United Kingdom, Germany, Poland and Italy, over 25 percent expressed an interest in taking up an mPOS solution within the next 6 months. Ease of use was sighted as a primary selling point across the board, though it had particularly strong traction in France and Germany where nearly three-quarters of respondents answered that way.

Also popular among European merchants would increase their sales as customers were less tethered to the amount of cash they had on them. Twenty-five mPOS solutions are currently live across Europe with 30 implementation projects in the works for Chip and Pin compliance upgrades. There are also several key banks beginning mPOS pilots that are set to be up and running by autumn this year.

“As these firms get to grips with the benefits and usability of mPOS we are going to see adoption rise – the last quarter of 2013 showed momentum and the early signs are that will continue in 2014. We continue to play a key role in mPOS’s development, ensuring that industry standards and requirements are met and solutions are secure before they are deployed in the market,” said Caroline Drolet, Head of Mobile Point-of-Sale at Visa Europe.

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