The upcoming Christmas shopping is about tobegin, in previous years, people usually line up at the cash register, then inserted a credit card in the POS machine. This is a traditional shopping experience, but on Christmas in 2015, it will be changed, because of the mPOS.
In Apple stores, for instance, you can get a good shopping experience. You can settle your payment without queuing. On Christmas in 2015, the popularity of mPOS will make more retailers realize direct settlement, making customers shopping experience better. With a small, high-tech equipment which is connected smart phones and tablet, payment will become easier. Notonly just above convenience, mPOS will make the online business possible. Meanwhile, businesses can also be tracked, such as consumer spending, launch promotion. It will make business more flexible with the mPOS, we will establish a membership system and a loyalty scheme, thereby increasing the viscosity of the user.
In early 2015, I predict that early users of mPOS will expand the scope of business groups, to achieve the credit card payment in a simple andinexpensive way, said by CEO Ralf Gladis in Comutop.
The renovation brought by mPOS is becominga reality. All sides are trying mPOS commercial feasibility and function for a very long time. MPOS also make stores on e-commerce possible. At the sametime, payments industry also needs more normative and practical guidance, such as DUKPT and P2PE. And now, I believe that now it is the best period in the history for mPOS development. Technology has matured, certified maturebusinesses started gradually adopted the proposal.
As a result of this change, more competitors will join international competition. It also makes mPOS with a higher application rate replace mPOS with a single function. For example, businesses expect it can support Visa and MasterCard, especially China UnionPay card in the mPOS. Payment can be done internationally by one of the payment service provider, which may not be bank. Payment providers can settle relationships with various international banks. MPOS is flexible, apparently is a shock for POS. After all, retailers in different countries needs to install different POS, and work with different banks. The transnational capacity of mPOS impact on traditional POS.
For the Apple Pay, any payment technology in the 2015 can ignore Apple Pay, I believe that the launch of Apple Pay will speed up the development of mPOS. Because Apple Watch and iPhone6 need NFC devices. So mPOS can add this function flexibly.
Of course, QR code problem, in my opinion, this is about QR code future problems. As a powerful competitor for mPOS, QR code can make online payments through Smart phone for consumers. But QR's future isuncertain (the United States), QR code needs to make an online payment. For retailers, the whole program is more expensive than directly joining the mPOS. And the online sales have an impact on sales in-store, for the development of QR code, we had better take await-and-see attitude.
Businesses will streng then its PCI data security (EMV migration fraud liability shift), when customers use mPOS, they concern more about Visa and MasterCard's security certification. MPOS and payment service providers need to use high encryption standard (DUKPT) and follow P2PE standards. Using mPOS to promote PCI DSS security can save a lot of costs.
Cost savings, simplicity and consumer loyalty are the advantages of mPOS.
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