mPOS Terminals Market Research Report By Terminal Type (Fixed MPOS Terminals, Mobile MPOS Terminals), By Transaction Type (Contactless Payments, Chip and PIN Payments, Magnetic Stripe Payments), By Connectivity (Bluetooth, Wi-Fi, Cellular), By Application (Retail, Hospitality, Healthcare, Transportation), By Security Features (PCI Compliance, Encryption, Tokenization) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Industry Size, Share and Forecast to 2032

Mpos Terminals Market Overview:

Mpos Terminals Market Size was estimated at 19.96 (USD Billion) in 2022.  The Mpos Terminals Market Industry is expected to grow from 21.71(USD Billion) in 2023 to 46.12 (USD Billion) by 2032. The Mpos Terminals Market CAGR (growth rate) is expected to be around 8.73% during the forecast period (2024 - 2032).

Key Mpos Terminals Market Trends Highlighted

Key Market Drivers: The rapid adoption of electronic payments, expanding acceptance of mobile payments, and the growing usage of contactless transactions are key drivers fueling the growth of the MPoS terminals market. These terminals provide cost-effective and convenient solutions for businesses of all sizes, enabling them to accept payments from customers anywhere, anytime. Additionally, the increasing demand for mobile-based payment processing and the technological advancements in mobile computing are contributing to the market's expansion. Opportunities to Explore: The expansion of e-commerce, the penetration of mobile devices in emerging markets, and the integration of innovative technologies into MPoS terminals present significant opportunities for growth. Businesses can capitalize on the growing adoption of mobile payments by offering flexible and secure payment options to their customers. Furthermore, the increasing popularity of contactless and mobile-first payment experiences provides ample opportunities for MPoS providers to tap into this lucrative segment.

Trends in Recent Times: The MPoS terminals market has witnessed several notable trends in recent times. The demand for wireless and portable devices, the integration of value-added services such as loyalty programs and inventory management, and the rise of cloud-based payment solutions are notable trends shaping the market. Additionally, the growing concern over security and the need for robust encryption protocols are driving the development of secure and reliable MPoS terminals.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Mpos Terminals Market Drivers

Increasing Adoption of Digital Payments

The Global Mpos Terminals Market Industry is growing mainly due to increasing popularity of digital payments. More people use their smartphones and other mobile devices to make payments, and this is a notable trend that is expected to be observed in the next years as well. Thus, businesses invest in MPoS terminals to meet this demand, offering customers the opportunity to pay for goods and services in a convenient and secure way. At the same time, the increasing use of digital payments is backed up by the growing use of MPoS terminals.

Growth of the E-commerce Industry

The growth of the e-commerce industry is another major driver of growth for the Global Mpos Terminals Market Industry. As more and more consumers shop online, there is a growing need for secure and convenient ways to make payments. MPoS terminals offer a convenient and secure way to make payments online, and this is expected to continue to drive market growth in the coming years.

Government Initiatives to Promote Digital Payments

The global mPOS Terminals Market Industry is likely to benefit from the government's digital payment promotion and other initiatives. Governments in many countries are motivating people to use digital payments instead of cash as a step towards de-cashing the economies. That’s why it is expected that businesses responding to the growth of the digital payment market will supply MPoS terminals more and more often.

Mpos Terminals Market Segment Insights:

Mpos Terminals Market Terminal Type Insights

Terminal Type is a crucial segment in the Global Mpos Terminals Market, influencing the industry's dynamics and growth trajectory. The segment comprises two primary types: Fixed MPOS Terminals and Mobile MPOS Terminals. Each type caters to specific market needs and offers unique advantages. Fixed MPOS Terminals are characterized by their stationary nature, providing merchants with a stable and reliable payment solution. These terminals are often integrated with point-of-sale (POS) systems and offer features like PIN pad integration, receipt printing, and cash drawer support. Due to their robust functionality, Fixed MPOS Terminals are prevalent in retail stores, restaurants, and other businesses requiring a stable payment infrastructure. The Global Fixed MPOS Terminals Market is projected to reach a value of approximately 12.39 billion USD by 2024, showcasing steady growth driven by the increasing demand for secure and efficient payment solutions. On the other hand, Mobile MPOS Terminals offer portability and flexibility, enabling merchants to accept payments anywhere, anytime. These terminals are typically wireless and compact, making them ideal for businesses like food trucks, delivery services, and pop-up shops.

The Global Mobile MPOS Terminals Market is anticipated to grow at a significant pace in the coming years, reaching a projected valuation of 9.46 billion USD by 2024. This growth is attributed to the rising adoption of mobile payment technologies and the increasing popularity of e-commerce. Both Fixed and Mobile MPOS Terminals play vital roles in the Global Mpos Terminals Market, catering to diverse business needs. Fixed MPOS Terminals provide stability and enhanced functionality, while Mobile MPOS Terminals offer portability and flexibility. As businesses continue to adapt to evolving customer preferences and advancements in payment technologies, the demand for both terminal types is expected to remain strong, driving the overall growth of the Global Mpos Terminals Market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Mpos Terminals Market Transaction Type Insights

Global M-Pos Terminals Market is segmented by Transaction Types such as Contactless Payments, Chip and PIN Payments, and Magnetic Stripe Payments. Contactless Payments are expected to take the lead with a market revenue of USD 13.2 Billion by 2024, with an increasing penetration of smartphones and wearable devices supporting contactless payment technologies. Chip and PIN payments are estimated to have a prominent market share and the revenue is expected to reach USD 10.4 Billion by 2024, recognizing the additional security facilities provided by these technologies and the migration of EMV chip cards across the globe. Magnetic Stripe Payments are forecasted to grow steadily, with a revenue of USD 4.5 billion by 2024. The growth is highly attributed to the availability of magnetic stripe cards in various regions, which are classified as traditional.

Mpos Terminals Market Connectivity Insights

The connectivity segment plays a crucial role in the global Mpos Terminals Market. Bluetooth, Wi-Fi, and Cellular technologies are the primary connectivity options available in the market. Bluetooth technology is widely adopted due to its low power consumption and ease of use, making it suitable for small businesses and mobile payments. Wi-Fi connectivity provides a stable and fast connection, enabling seamless transactions in high-traffic environments. Cellular connectivity, on the other hand, offers the advantage of mobile payments even in areas with limited or no Wi-Fi coverage.As businesses increasingly embrace mobile payments, the demand for reliable and secure connectivity solutions is driving the growth of the Mpos Terminals Market. In 2023, the Bluetooth connectivity segment held a significant market share, and it is projected to maintain its dominance over the forecast period. However, Wi-Fi and Cellular connectivity segments are expected to witness substantial growth due to the increasing adoption of mobile payments in the retail and hospitality sectors.

Mpos Terminals Market Application Insights

The Global Mpos Terminals Market is segmented into various applications, including retail, hospitality, healthcare, and transportation. The retail segment holds a significant market share due to the increasing adoption of MPoS systems by retailers of all sizes. In 2023, the retail segment accounted for approximately 45% of the Global Mpos Terminals Market revenue. The hospitality segment is another major application area for MPoS systems, with a market share of around 25% in 2023. The healthcare and transportation segments are also expected to witness steady growth in the coming years, driven by the increasing demand for mobile payment solutions in these industries. The growth of the market is attributed to the increasing adoption of mobile payment solutions, the growing popularity of e-commerce, and the rising demand for convenient and secure payment methods.

Mpos Terminals Market Security Features Insights

The Global Mpos Terminals Market revenue from the Security Features segment is projected to reach USD 2.1 billion by 2024, exhibiting a CAGR of 8.7% during the forecast period. This growth is attributed to the increasing demand for secure payment solutions due to rising concerns over data breaches and fraud. PCI Compliance: PCI Compliance is a set of security standards established by the Payment Card Industry Security Standards Council (PCI SSC) to protect cardholder data. MPOS terminals that are PCI compliant ensure that they meet the highest security standards and protect sensitive payment information. The growing adoption of PCI-compliant MPOS terminals is expected to drive segment growth. Encryption: Encryption is a process of converting data into a form that cannot be easily understood by unauthorized individuals. MPOS terminals use encryption to protect sensitive payment data during transmission and storage. The increasing adoption of encryption technologies is expected to support segment growth. Tokenization: Tokenization is a process of replacing sensitive payment data with a unique token that can be used for transactions without exposing the actual data.MPOS terminals that support tokenization provide an additional layer of security and reduce the risk of data breaches. The growing adoption of tokenization is expected to contribute to segment growth.

Mpos Terminals Market Regional Insights

The regional segmentation of the Global Mpos Terminals Market offers valuable insights into the market's geographical distribution and growth potential. North America is expected to hold a significant market share, driven by the early adoption of advanced technologies and the presence of key players in the region. Europe is another major market, with a high demand for mobile payment solutions and a favorable regulatory environment. The Asia-Pacific region is projected to witness substantial growth, fueled by the increasing adoption of smartphones and the expansion of e-commerce. South America, the Middle East, and Africa (MEA) are emerging markets with untapped potential, offering opportunities for growth in the coming years. This growth is attributed to the increasing adoption of mobile payment solutions, the growing popularity of e-commerce, and government initiatives to promote digital payments.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Mpos Terminals Market Key Players And Competitive Insights:

Major players in Mpos Terminals Market industry are focusing on developing innovative products and solutions to meet the evolving needs of their customers. Leading Mpos Terminals Market players are also investing in research and development activities to improve the performance and functionality of their products. The Mpos Terminals Market development is being driven by the increasing adoption of mobile payments and the growing popularity of e-commerce. The competitive landscape of the Mpos Terminals Market is characterized by the presence of both global and regional players. Some of the key players in this market include Verifone, Ingenico, Pax Technology, and Newland Payment Technology.

A leading company in the Global Mpos Terminals Market is Verifone. The company offers a wide range of Mpos terminals, including the VX 520, VX 680, and VX 820. These terminals are known for their durability, ease of use, and security features. Verifone also provides a variety of value-added services, such as terminal management, payment processing, and fraud protection. The company has a strong global presence and serves customers in over 150 countries. A competitor company in the Global Mpos Terminals Market is Ingenico. The company offers a range of Mpos terminals, including the Ingenico Move 5000, Ingenico Move 2500, and Ingenico Lane 8000. These terminals are known for their high performance, reliability, and security features. Ingenico also provides a variety of value-added services, such as terminal management, payment processing, and loyalty programs. The company has a strong global presence and serves customers in over 170 countries.

Key Companies in the Mpos Terminals Market Include:

• Chase Paymentech


• Verifone


• Poynt


• Elavon


• GoPayment


• Square


• Payline Data


• PAX Technology


• Ingenico


• First Data


• BBPOS


• Azteq


• TSYS


• Spire Payments


• Clover Network

Mpos Terminals Industry Developments

The MPOS terminals market is witnessing significant growth, driven by the increasing adoption of digital payments and the growing popularity of mobile devices. In 2023, the market was valued at USD 21.71 billion and is projected to reach USD 46.12 billion by 2032, exhibiting a CAGR of 8.73%. Key market players are focusing on developing innovative solutions to meet the evolving needs of merchants and consumers. Recent developments include the integration of advanced technologies such as NFC, biometrics, and AI to enhance security and convenience. Additionally, strategic partnerships and acquisitions are shaping the competitive landscape.

Mpos Terminals Market Segmentation Insights

Mpos Terminals Market Terminal Type Outlook

• Fixed MPOS Terminals


• Mobile MPOS Terminals

Mpos Terminals Market Transaction Type Outlook

• Contactless Payments


• Chip and PIN Payments


• Magnetic Stripe Payments

Mpos Terminals Market Connectivity Outlook

• Bluetooth


• Wi-Fi


• Cellular

Mpos Terminals Market Application Outlook

• Retail


• Hospitality


• Healthcare


• Transportation

Mpos Terminals Market Security Features Outlook

• PCI Compliance


• Encryption


• Tokenization

Mpos Terminals Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa