India, China to drive huge growth in cloud based mPOS solutions

A new study from Juniper Research suggests that mPOS solutions are going to be a huge growth area over the next few years, driven mainly by demand from India and China. A major reason is that street vendors and pop up shops will be encouraged by vendors to move to mPOS as a more secure and seamless system for taking payments. The value of mPOS transactions will grow 130% over the next five years to exceed $1.9 trillion. This growth trend will in itself provide a major opportunity for hardware vendors, supported by cloud providers, as the transition is in progress. The growth of mPOS will, in turn, be a key element of the payments ecosystem that will reshape an important part of our digital world.

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