Mobile point-of-sale (mPOS) usage by small businesses (SMEs) is expected to take off dramatically in 2014, according to the latest study on ‘new payment solutions’ by Visa Europe.
The research – conducted on 2,000 SMEs in the UK, France, Germany, Italy and Poland – shows that many small businesses are changing their attitudes toward card acceptance.
Caroline Drolet, head of mPOS at Visa Europe, commented: "Small businesses have been traditionally reluctant to embrace card payments but across Europe that is changing."
In fact, the study found that over 25% of the merchants surveyed were interested in taking up an mPOS solution within the next six months. The ease of use was cited as unique selling point by 74% of SMEs in France, 73% in Germany, 63% in the UK and Poland, and 59% in Italy.
"As these firms get to grips with the benefits and usability of mPOS we are going to see adoption rise – the last quarter of 2013 showed momentum and the early signs are that will continue in 2014," added Drolet.
The survey also found that mPOS appealed equally to all industries.
A Chip and PIN mPOS can turn a merchant’s smartphone or tablet into a secure card terminal, making card payments portable and therefore easy to use in places such as market stalls, festivals and ‘on the doorstep’ home deliveries.
According to Visa Europe, there are 25 mPOS solutions live across Europe today, and several key banks have started mPOS pilots with 30 implementation projects set to launch a new Chip and PIN compliant program in autumn 2014.
The most recent is Barclaycard in the UK.