Electronic Payments, Payment technology

PYMNTS.com report: Retailers list mPOS technology as number one priority

Mobile PaymentA recent report released by PYMNTS.com revealed that merchants have focused on leveraging mPOS technologies and that acquisitions of mPOS firms have become increasingly popular as a means to expand customer base.

“For the first time, mPOS and mobile solutions are viewed by merchants as their number one key priority, coming even before security and fraud,” the report said.

PYMNTS.com’s MPOS Tracker pointed to a study from Infinite Peripherals, which showed 67 percent of retailers said mobile technology innovation drives payment and commerce agendas. Fraud and criminal payment activity ranked second at 38 percent, while 35 percent indicated that customer preferences will determine priorities.

“That’s a remarkable shift in retailer thinking and affirms, in many ways, the retailers’ recognition that mobile is both their biggest threat and biggest opportunity, and one they need to get in front of to drive more sales in stores,” the report said.

Additionally, the report pointed to an “mPOS land grab” aimed at expanding the customer base. Amazon recently acquired GoPago’s technology to launch its own POS this summer.

“While Amazon has not confirmed this report, the mPOS space is abuzz with how the largest U.S. eCommerce merchant will take its online business offline,” the report said. “The potential to leverage its data, customer assets (230 million+) and Pay with Amazon payment plug-in could represent a nontrivial entrant to the physical retail scene. There is further speculation that its go-to-market strategy follows in the steps of Groupon/Breadcrumb by first targeting merchants that have signed up for Amazon local deals.”

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