finextra tv

Watch the latest FinextraTV stories covering fintech, banking and payments technology.

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.

8897
Sponsored | what does this mean?
This content has been created by the Finextra editorial team with inputs from subject matter experts at the funding sponsor.

Channels

Keywords

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...