mPOS’ Moment Is Here And It’s Big

The PYMNTS mPOS Tracker™ for October is flush with news about deals, product launches and more funding. Intended to be a “playbook” on the mPOS ecosystem, the tracker maps the prolific growth of the booming mPOS ecosystem, featuring news, insights and company snapshots.

Is mPOS getting its ‘big boys club?’
 
The industry, freshly infused with cash, is ripe for growth, consolidation, collaboration and creation.

• Suvidhaa Infoserve, a company that enables online payments services for SMEs in India, acquired AasaanPay’s mobile point of sale (POS) technology platform.
• U.K.-based iPad POS solution ShopKeep acquired Ambur, a rival POS service currently in use in over 1,500 restaurants around the U.K.
• Canadian POS company Lightspeed raised $61 million in series C funding for international expansion and omnichannel efforts.
• European mPOS player SumUP also raised $10 million in funding from investors including BBVA Ventures and Groupon.

EMV migration and PayPal are “Here”

The online payments giant threw its hat in the EMV ring right in time for the migration. The company launched PayPal Here, a chip card reader with EMV and NFC capabilities that is compatible with iOS and Android devices. PayPal envisions the mPOS device as being a single window to a whole suite of solutions.