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Mpos TRACKER™ JULY 2018

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Mpos TRACKER™ JULY 2018 mPOS TRACKER™ JULY 2018 EASING TAXI DRIVERS’ CASH FLOW HEADACHES WITH MPOS How myPOS tackles the mPOS TSYS purchases The top providers needs of taxi drivers and fleets iMobile3 in the Tracker Scorecard ― page 6 (Feature Story)6 ― page 9 (News and Trends)9 ― page 16 (Tracker16 Scorecard) mPOS Tracker™ © 2018 PYMNTS.com All Rights Reserved TABLEOFCONTENTS PAGE What’s Inside The latest developments from around the mPOS space, from a solution to speed payment 03 device production to TSYS’s iMobile3 acquisition PAGE Feature Story Taxi drivers can’t always wait for card-based fare payments to settle, but they need to have money on hand for refueling and other costs. Cash-only isn’t a winning business approach, either, potentially alienating a large portion 06 of card- and mobile wallet-carrying customers. Irfan Rasmally, business director of myPOS, discusses his company’s mPOS-based approach to making electronic payments more appealing. PAGE News and Trends 09 The latest headlines from the mPOS industry PAGE Top 25 Providers | Scorecard The results are in. See the top scorers and a provider directory featuring roughly 290 players 16 in the space, including four additions. PAGE About 164 Information on PYMNTS.com mPOS Tracker™ © 2018 PYMNTS.com All Rights Reserved July 2018 | 2 WHAT’S INSIDE ayments players from around the mobile point- Americans continue to eschew digital wallets, but they’ve of-sale (mPOS) space are working to encourage been showing greater favor toward in-store mobile contactless payment acceptance in an increasing commerce. Retailers are listening, too, and seeking Pnumber of countries. to get ahead of the curve. In a recent interview with PYMNTS, Paul Zaengle, executive vice president of mPOS solutions provider Mobeewave is launching a direct-to-consumer at high-end sock retailer Stance, said new payments offering to encourage greater in-person the next big thing may be enabling customers to make contactless payment acceptance at local merchants in the in-store digital purchases by turning their phones into United Arab Emirates (UAE), for example. It is working point-of-sale (POS) devices. with payments product provider Network International, Mastercard and security and identity solutions provider IDEMIA on the debut, its first in the region. Around the mPOS world: mPOS solution providers are also turning to joint efforts Meanwhile, contactless payments may not have taken off to better process payments. in the U.S., but they’re seeing popularity elsewhere. On a recent conference call, Apple CEO Tim Cook credited The most recent is financial services firm TSYS’ purchase transit stations’ Apple Pay acceptance for propelling the of private-labeled small business solutions provider solution’s use, and is seeking to ride that success further iMobile3, which offers mobile and tablet POS products. with a new expansion. The company launched a transit- The move is only the most recent for TSYS, as it also focused service in Beijing and Shanghai in March, and the acquired merchant services provider Cayan for roughly digital wallet is slated for rollout in Norway, Poland and $1.05 billion in 2017. the Ukraine later this year. mPOS Tracker™ © 2018 PYMNTS.com All Rights Reserved July 2018 | 3 WHAT’S INSIDE Meanwhile, payments giant Mastercard has announced A taxi-tailored solution a new collaboration with Dutch-based semiconductor Taxi drivers could see their businesses come to a manufacturing firm NXP Semiconductors and fellow screeching halt if they don’t have money ever-ready for payments company Visa. The joint mWallet 2Go effort refueling and other operational expenses. They often aims to bring mobile payment capabilities to Internet have to wait to receive funds from fares made by card, of Things (IoT)-enabled devices, and reduce the cost however, meaning they must decide to accept payments and time-to-market requirements for IoT payment that could take days to arrive or turn down card-wielding development. The trio has tapped German manufacturer riders and lose that revenue. Montblanc as the first company to launch its own mobile wallet solution based on the offering. In this month’s mPOS Tracker™ feature story (p.6), Irfan Rasmally, business director of small enterprise mPOS Cloud-based property management systems provider solutions provider myPOS, discusses the company’s Hotelogix has also joined the collaborative trend, taxi-industry tailored solution, how it has come to serve recently announcing a new agreement with payment approximately 4,500 taxi businesses in Europe and why gateway solutions provider Airpay Payment Services. instant settlement and multi-operator IDs can be key Under the partnership, Hotelogix will implement Airpay’s when winning over taxi drivers. end-to-end hotel payment offering to centralize its payment process, using the same acceptance tools used with online travel agents, websites and mobile terminals. July Tracker updates This edition of the mPOS Tracker™ features a Scorecard For more on these stories and other mPOS headlines, and provider directory highlighting roughly 290 providers check out the Tracker’s News and Trends section (p. 9). from around the space. It also includes four new additions: AccuPOS, Poster, Storezigo and VeritasPay. mPOS Tracker™ © 2018 PYMNTS.com All Rights Reserved July 2018 | 4 FIVE FAST FACTS 65% Portion of retailers that said in-store mobile payment acceptance was their “top priority” $55 Billion Projected size of the mPOS 52% terminal market by 2024 Share of U.K. consumers who are “weary” of checkout-free stores due to privacy concerns Five Fast 25% Facts5 Share of POS transactions that will involve mPOS solutions by 2023 26% Portion of Indian consumers who prefer using a mobile app over talking to a human employee mPOS Tracker™ © 2018 PYMNTS.com All Rights Reserved July 2018 | 5 FEATURE STORY EASING TAXI DRIVERS’ CASH FLOW HEADACHES WITH mPOS Taxi driving can be a difficult career work-related spending. As such, they often have the same payment pain points as independent drivers. path to navigate. Using the right payment acceptance solution could be Pay is often low, with drivers in Italy and the U.K. the key to getting over that payments speed bump, reportedly earning fewer than $10 an hour. They must according to Irfan Rasmally, business director of small also regularly deal with the costs of staying in business, enterprise mPOS solutions provider myPOS. The like gas, taxi insurance or those of buying, renting or company currently serves nearly 4,500 taxi businesses maintaining the actual taxi itself. Drivers want to take in Europe — including individual drivers and taxi fleet home as many fares as possible — and have those funds companies alike. on-hand as quickly as possible, too — so they’re ready whenever personal or work-related expenses arise. Speeding up settlement The largest hurdle most taxi drivers face is the painful Taxi fleet operators are no different, dealing with wait to access earnings for fares paid by card, Rasmally logistical challenges like tracking drivers’ earnings and explained. Drivers typically receive these payments mPOS Tracker™ © 2018 PYMNTS.com All Rights Reserved July 2018 | 6 FEATURE STORY in a couple of days, but the wait can be UNDER THE HOOD exceptionally lengthy if he accepts a payment on a Friday, then has to wait through the weekend and into the middle of the following How do payment acceptance needs differ week to receive his funds. His empty gas tank by country? can’t wait four days, either, and the driver must fill it with out-of-pocket funds if he “With Europe being very traditional for a very hopes to earn more wages in the intervening days. long time, the taxi industry [there] has been more of a cash-based [one]. Taxi drivers have Using a comprehensive POS solution can help always preferred to have cash, and today, as get drivers paid more quickly, though. well, it’s still a widely used payment acceptance “[With a typical POS solution, taxi drivers], method. But, very slowly now, with more at a minimal level, get settlement funds after incentives from the card schemes like Visa two days,” Rasmally said. “In worse cases, and Mastercard — and also backed by certain depending on how many intermediaries there regulations from the government, [and] by some are in the cycle of payments, it can take them incentives from the taxi association — we see up to one week to get the funds. This is not more and more taxi companies and taxi drivers interesting for taxi drivers, because they have embracing the electronic payment acceptance to have a certain cash flow in order to refuel methods. their cars, run the business and take care of the expenses.” In some [countries], taxi drivers or taxi companies have embraced electronic payments The delay between payment acceptance and very quickly. If you go to the U.K. or to France, actual access can make drivers eager to stick it’s normal to pay by card in a taxi. If you go to to serving customers who pay in cash, which the Netherlands, it’s normal to pay by card in a provides instant funds. Accepting cash comes taxi. But, if you go to some other countries — with its own problems, however, as it can be risky for a driver to carry a lot of it at the end like Portugal or Spain, for example — you can of each day. In addition, only serving cash still face situations where you have to pay by customers means turning away those who cash. In eastern European countries, cash is very can only pay with cards or mobile payment predominant. This is changing very slowly, but methods. surely.” To solve this problem, myPOS developed IRFAN RASMALLY, an mPOS solution that delivers instant business director of myPOS settlement of authorized electronic payments — minus a fee — into an online electronic money account.
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