Valued at USD 43.45 billion in 2024, the base year, the mobile point-of-sale (mPOS) terminals market is projected to reach USD 48.26 billion in 2025 and USD 127.04 billion by 2034, growing at a CAGR of 11.4% during the forecast period 2025–2034, per Polaris Market Research. Key players include PAX Technology, Oracle, VeriFone, Inc., HP Development Company, L.P., PT. NEC Indonesia, Ingenico, Toshiba Global Commerce Solutions, Panasonic, Posiflex, and Squirrel Systems.

SME Demand in the Mobile Point-of-Sale (mPOS) Terminals Market

The hardware segment dominated the market in 2024 because compact, portable mPOS devices offer cost-effective, on-the-go payment solutions, driving demand among small and medium-sized enterprises (SMEs). In North America, the increasing number of small and medium-sized enterprises leveraging mPOS solutions for cost-effective operations further supports growth, alongside advanced digital payment infrastructure, widespread smartphone penetration, and supportive government initiatives promoting cashless economies.

Asia Pacific: The Fastest-Growing Region

Asia Pacific is expected to witness the fastest growth, owing to rapid digital transformation and increasing adoption of cashless payment methods in countries such as China, India, and Japan. E-commerce expansion and a growing number of small and medium-sized enterprises are driving demand for cost-effective and portable payment solutions, while government initiatives promoting digital payments and advances in mobile technology accelerate adoption.

In 2024, the central banks of India, Malaysia, Thailand, Singapore, and the Philippines, together with the Bank for International Settlements (BIS), announced plans to launch an instant cross-border retail payments platform by 2026, linking systems such as UPI and PayNow. The region's large population, rising smartphone penetration, and consumer preference for seamless transactions further support growth.

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Security: A Prominent Restraint

The report identifies data security concerns as a restraint. mPOS terminals process sensitive information such as credit card details and personal data, which makes them attractive targets for cyber attacks. Vendors are responding with enhanced protections: cloud-based mPOS systems are described as offering enhanced data security, and hardware advances include integration with biometric authentication. Verifone's March 2024 updates to Verifone Central added Multi-Factor Authentication, addressing data security concerns at the platform level.

Technology Trends Shaping Competition

Emerging technologies such as AI-based analytics, cloud integration, and NFC-enabled devices are transforming the market, enabling more personalized and efficient payment solutions. Demand is rising for compact, user-friendly mPOS solutions, driven by growth in the retail and hospitality sectors, rising adoption of digital payments, and increased smartphone penetration. By deployment type, the cloud-based segment is expected to witness the fastest growth during the forecast period. End users span retail, restaurant, healthcare, and hospitality.

Recent Developments

• October 2025: Adyen launched an analytics tool that gives merchants real-time transaction insights, reinforcing its role as a technology-focused mPOS provider.
• September 2025: PayPal introduced a feature enabling merchants to accept cryptocurrency payments on its mPOS terminals.
• August 2025: Square announced a partnership with a major retail chain to deploy its mPOS solutions across stores, improving checkout speed and customer payment experience. Such collaborations are expected to strengthen Square's position in a highly competitive market.
• October 2024: Revolut launched the Revolut Terminal, a point-of-sale device that syncs with Revolut Business accounts and introduces Revolut Pay.

Competitive Strategies

Leading companies such as Ingenico, Verifone, Oracle, PAX Technology, and Toshiba Global Commerce Solutions leverage advanced R&D capabilities and robust distribution networks. Competitive strategies include mergers and acquisitions, partnerships with financial institutions, and product innovations tailored to regional needs. These companies deliver mPOS terminals with enhanced functionality such as integration with e-commerce platforms and secure transactions. Oracle provides cloud software and enterprise IT products worldwide, while Toshiba operates across electronic devices, retail and printing solutions, energy systems, and digital solutions. The report rates rivalry among existing firms as high.

Conclusion

The mPOS terminals market is expected to grow due to the increasing adoption of digital payments, smartphones, and contactless transaction technologies. Rising demand for flexible, cost-effective payment solutions among small businesses and retailers will further support market expansion.

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