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Is the mPOS market too crowded?

Balazs Fejes, SVP, global head of financial services business unit, EPAM Systems, discusses the mPOS market, what it will take for a player to succeed and how the proliferation of mPOS will affect payments processing and bank infrastructures.

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Retail banking Payments

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Cards Mobile & online banking

Comments: (1)

Ritesh Agarwal
Ritesh Agarwal - On My Own - Bangalore 23 August, 2014, 07:48Be the first to give this comment the thumbs up 0 likes

Balazs has identified the right difference between PoS need and payment need of a merchant. Many companies are wasting their investors' money in devising a mobile based solution, which merges PoS and Payment needs. Hardware for PoS is usually a computer, whch is also used for other purposes like inventory management, vendor management, payroll processing while mobile based payment system ask for a different device. This is where the confusion starts...and we see foolish solutions like mPoS.

Can we have a payment mobile based payment mechanism that does not need any hardware or does not interfere with hardware need for PoS...and beats MDR far below what credit card companies may offer.

I just wish banks wake up to the need of the hour...

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