Mobile devices are sweeping the Point of Sale (POS) industry across the world and India is no exception to this new-found trend in retail segment. Convenient to carry, facility to transact anywhere and anytime, rugged usage and multi-functional applications make Mobile POS a sure hit among Indian retailers.
According to a study on Mobile POS by Radiant Insights, a leading international research firm, the global Mobile POS industry is likely to witness the growth of 9.6 per cent CAGR by 2019. So, what is Mobile POS then and how will it change the outlook of the Indian POS market in the coming years?
A mobile Point of Sale (POS) is an electronic payment device that transfers money using debit and credit cards at POS terminals in retail outlets.
Mobile POS systems are stacked with features such as Radio-frequency identification (RFID), Wi-Fi, smart card capabilities and Voice over Internet Protocol (VoIP). These are multi-purpose systems which are used primarily as data devices.
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