The bank-backed Mobey Forum has established a global task force to assess the mobile point of sale (MPOS) revolution sweeping across North America and Europe.
The task force, founded and coordinated by Mobey Forum's North American Chapter, has set its sights on arming banks with the necessary knowledge to become active participants in this new high growth market.
The task force is comprised of leading banks, payment schemes and service providers, including: Bank of America, Bank of America Merchant Services, CIBC, Danske Bank, Elavon, Fiserv, La Caixa, MasterCard, Metaforic, Nets, Nordea, RBS, US Bank and Visa.
To kick off proceedings, the Mobey Forum has produced the first in a series of white papers which tracks the progress of new innovative players and explains how non-traditional thinking has been key to driving adoption. It also highlights key factors influencing the growth of the MPOS ecosystem as it transitions from a niche proposition for small traders to a new revenue generator for multinational retailers.
Matt Calman, chairman of the Mobey Forum MPOS Task Force and SVP and R&D executive at Bank of America, comments: "Little more than three years after the first wave of MPOS solutions hit the market, the technology is already redefining merchant card acceptance at the point of sale, by rewriting the rules on who can accept card payments and also vastly simplifying the process of doing so. Our series of white papers aims to provide guidance for the next wave of players seeking to establish a foothold in this space."
Future papers will explore the go-to-market processes of MPOS providers by evaluating specific use cases and explore the strategic options and business models for banks and other financial institutions.
An analysis of the MPOS market is set to be a key discussion topic at MobeyDay