MPOS Terminals Market Size

MPOS Terminals Market size was valued at USD 40.2 billion in 2023 and is poised to grow from USD 44.5 billion in 2024 to USD 100.36 billion by 2032, growing at a CAGR of 10.7% during the forecast period (2025-2032).

The global mPOS (Mobile Point-of-Sale) terminals market growth has been driven in recent years due to increased deployments in large retailers in different store formats across regional markets. The intersection of mobile and internet payment channels during a period of robust growth in the smartphone and mobile app market is turning out to be one of the drivers for the use of mPOS terminals.

The primary growth driver for the market is the increasing concern of businesses to improve customer experience. Mobile POS is utilized as a result of queues in stores and malls that tend to waste time for consumers. Consumers, however, can process the sale directly from the retail floor in a store, paying electronically without having to spend much time waiting in queues. Such solutions increase customer satisfaction, which reinforces brand loyalty and trust, thereby companies are leaving traditional systems in favor of smartphone and tablet POS increasingly.

Emerging demand for mPOS terminals in various sectors is one of the major forces driving the total market. The low cost of rolling out mPOS within the store and security and ease of use has encouraged small and mid-size companies (SMBs) to adopt the solution for their stores. While SMBs are struggling to deal with the impact of business disruption and lost business, demand for mPOS will increase as increasing numbers of consumers use digital payments to shop remotely. Further, lower Total Cost of Ownership (TCO) and improved investment returns delivered by mPOS terminals have also raised the demand for them among SMBs.

Moreover, the new emerging market players are introducing fresh strategic moves and alliances among others riding on the growth of the market. Such strategies are mobile discounts, loyalty programs, gift cards, vouchers, and cash-back offers among others. Important trends such as increased technological advancements such as cloud-based mPOS support the growth of the market. Thus, emerging market players and technological trends provide lucrative chances for market growth.

Key Market Attributes

VeriFone unveiled a state-of-the-art, all-in-one mPOS terminal with improved security features in May 2024 with the motive of offering firms a secure and simple way to accept payments. For safe transactions, the latest device includes stronger encryption, tokenization, and fraud protection. Verifone entirely focused on the improvements to the products, increased connectivity, plug-and-play integration ease, and simple user interface. The company has ambitions to raise its market position and drive adoption of mobile point-of-sale (mPOS) technology across verticals by delivering solutions that meet the evolving needs of today's consumers and businesses.

Ingenico, in March 2022, also partnered with BharatPe, the largest fintech player in India, apart from the commerce and payment solutions for Indian merchants. This collaboration will drive the adoption of point-of-sale (POS) solutions on the path of delivering innovative and frictionless payment solutions specifically designed for Indian merchants. The tie-up has been able to leverage BharatPe's extensive merchant network and Ingenico's know-how in secure POS platforms to make financial services, online payment infrastructure, and analytics centers more accessible to business establishments. This consolidation further deepened financial penetration in the entire retail sector while also nudging India to advance on the less-cash, analytics-based, and digital economy.

In the U.S., U.K., and E.U., Adyen introduced mobile Android Point-of-Sale (POS) terminals in January 2022, giving businesses a convenient, single-device payment system. The device allows merchants to accept various payment methods, including mobile wallets, contactless, and chip-and-pin. Businesses can also publish, and update required apps such as stock management, customer engagement tools, and loyalty programs due to the built-in app management system. Adyen's Android POS terminals make business easier, improve customer satisfaction, and address the growing demand for smart, connected commerce solutions in most places by providing a scalable, integrated, and easy-to-use payment solution.