Industry experts predict that tap-to-phone payments will gain popularity.
Industry experts predict that tap-to-phone payments will gain popularity. Companies have been looking at ways to make contactless payments more popular, such as turning a smartphone into an automated payments processor. Mobile point-of sale (mPOS), is the use of a smartphone as a terminal to process payment transactions. It's different from a fixed terminal. Smartphones equipped with near-field communication chips (NFC) can digitally process transactions with the touch of a card or smartphone. "mPOS enables businesses to accept card payments where they previously could not" and helps retailers such as cab drivers, who operate a mobile business, according to Juniper Research . Globally, the shipment of mPOS terminals is expected to increase to 32 million units in 2026 from 20million units this year. This represents a 56% increase. In an interview, Nick Starai, NMI chief strategy officer, stated that both consumers and merchants adopted contactless payments to avoid th