Payment technology

Differences in developing, emerging payments revealed by mPOS Tracker

Data released earlier this week by showed indications of a split between tablet and smartphone mobile point-of-sale use in developing and emerging markets.

According to the February 2014 mPOS Tracker report, which monitors developments in the mobile point-of-sale industry, developed countries have increasingly used tablets as a replacement for traditional mPOS devices, while small merchants in emerging economies have opted for mobile phones and dongles to boost their customer base.

“mPOS dongles are not spinning off purely because of the need to accept payments,” the report said. “The drive also exists because of the month-to-month or pay-as-you-go pricing, changing the traditional acceptance system.”

The report also discussed the entrance of two new industry players: iACCEPT and Barclaycard Anywhere. iACCEPT was launched by Myanmar Citizens Bank and 2C2P and features both magnetic stripe and EMV capabilities for the hospitality industry. Barclaycard Anywhere was designed for small- to large-sized businesses with mobile workforces.

Additionally, the report discussed the agreement between Square and Whole Foods. The report said that even if Square processes less than one percent of Whole Foods’ revenue–$13 billion in 2013—it is still a “major achievement” for the company, especially if it is considering an IPO.

“’Going mobile’ today now means that both customers and merchants are able to gain tremendous efficiencies at a point of sale that can accommodate the form factors that consumers use today—the plastic card—and move that point of interaction closer to the customer,” the report said. “Merchants large and small are able to gain business efficiencies as well as new customers and sales.”

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