The mobile point of sale (mPOS) terminals are integrated mobile devices that function as electronic point of sale terminals. It can perform cash registration with the help of dedicated incorporation of the mobile equipment that works as electronic POS terminals. The mobile point of sale (mPOS) is equipped with the technology such as Wi-Fi, smartcard and radio frequency identification (RFID) technology. This wireless application enables the distant transfer of the payments. The mobile point of sale (mPOS) enables the transaction to be more versatile without being dependent to one location or one device. The mobile point of sale (mPOS) transactions are ideal for the various business such as sports venues, flea markets, food trucks and market vendors in order to conduct the credit and debit cards transaction easily. This technology is low cost and suitable for the small business.
The global mobile point of sale devices (mPOS) market is anticipated to expand at a CAGR of around 22% during 2018-2027. It is anticipated to reach the market size of USD 31.0 billion by 2027. The rising technological development in the field of the payments and transfer is anticipated to be the major reason fostering the growth of the global mobile point of sale devices (mPOS) market during the forecast period. For instance, Indian government in March 2016 introduced the RuPay debit card for all online transaction within India. The main purpose of introduction of the RuPay debit card is to enhance the purchasing power of the low income population.