A study released by Visa Europe on Tuesday indicates that mobile point-of-sale adoption among small businesses in Europe will increase substantially in the coming year as merchants become more comfortable with mobile POS solutions.
The study, which polled 2,000 small businesses in the U.K., France, Germany, Italy and Poland, indicated changing attitudes surrounding card acceptance may contribute to the boom in mPOS adoption.
“Those who were initially reluctant to take on mPOS, believing their business to be too small and that card acceptance solutions were too expensive and complex, soon changed their views once they had seen a demonstration and understood the usability and benefits of the technology,” the study said.
More than 25 percent of European small businesses expressed interest in adopting an mPOS solution within the next six months, with ease of use cited as the most common selling point. Security was also mentioned as an important feature of the technology, followed by industry compliance and the ability to accept all major cards.
Currently, 25 mPOS solutions are live across Europe, several banks have also launched mPOS pilots and 30 implementation projects are set to launch chip & PIN-compliant programs by the fall.
“Small businesses have been traditionally reluctant to embrace card payments but across Europe that is changing,” Carol Drolet, the head of mPOS at Visa Europe, said. “mPOS is the catalyst for that – it’s a solution that dispels many of the convictions previously held and genuinely works for small businesses, if they are accepting payments at their premises, or on the go. 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.”