A report by GrowthPraxis on POS Penetration in US, Canada, UK: Focus on mobile & Contactless POS study reveals that In US, about 63.5% of the organized merchants have adopted POS, and have about 1.90 POS per merchant store. While the conventional POS market is shrinking at a rate of -2.5%, mPOS is growing at a rate of 9.2% while contactless POS is growing at 81%. 6.8 mn merchants we covered in US have a fraction of micro merchants that are organized and reported.
But there is a bigger pool of micro-merchants which is not traceable. Even Square supports only 2% of that 25 mn micro-merchants. Growth will happen in this segment and we have taken a reasonably sized portion of micro-merchants. In Canada, 78.1% of the organized merchants have adopted POS, and there are about 2.13 POS per merchant store in the country. While conventional POS market is shrinking at -4.1%, the market size of mobile POS and contactless POS are growing at rates of 9.2% and 16.4% respectively. In UK, there are 1,326,333 POS terminals. mPOS and contactless POS markets are growing at rates of 14.3% and 26.7% respectively in the country.
The evolving mobile ecosystem has brought a paradigm shift in the payment industry worldwide, bringing new stakeholders and innovative methods to conduct payments electronically. With handsets becoming smarter and faster, mPOS is presenting retailers with unforeseen opportunities to improve customer services. This report analyzes the POS market in US, Canada and UK, providing insights about number of establishments adopting POS in these countries by segments and type of business, and the expected growth in adoption of conventional POS, mPOS and contactless POS (from 2010 to 2018). The report also provides insights on growth drivers and inhibitors of mPOS in these countries. The report covers following points:
|No. of establishments, Adoption rate, POS per store and total no. of POS by Type of business in US, UK & Canada|
|No. of establishments, Adoption rate, POS per store and total no. of POS by retail segment in US, UK & Canada|
|Penetration and Expected growth of Conventional POS, mPOS and Contactless POS from 2010 to 2018 in US, UK & Canada|
|Growth Drivers & Inhibitors of mPOS in these countries|
|20+ mPOS and Contactless POS company profiles|
|30+ Restaurants and Retail Outlets using mPOS profiles|
The report will be useful to firms across POS industry value chain including the POS device manufacturers, POS Software providers, mPOS Device manufacturers and mPOS software providers. It can also be used by companies & start-ups targeting the restaurants, retailers and other merchants with payment systems based on QR Codes, NFC, Card Readers, apps and others.