Mobile POS to account for $1.1 trillion in new card payments

Javelin Strategy and Research has released a new study projecting mobile point of sale (MPOS) transactions could account for $1.1 trillion in new card payments annually, and grow the existing market for payment networks by as much as 20 million merchants.

MPOS is a disruptive threat to the traditional acquiring and POS terminal business. In addition to creating increased transparency and simplified pricing models for merchants, MPOS players like Square and Intuit have succeeded without the need for ISOs to sell their services.

The ISO market is highly fragmented, and will have to reinvent itself to remain relevant and competitive against the new players.