The news: Netherlands-based acquirer and payment gateway Adyen introduced a mobile point-of-sale (mPOS) offering in the EU, the UK, and the US, per a press release.
Here’s how it works: The “all-in-one” Android device lets merchants accept all major digital payment methods, including mobile wallets and contactless, chip, and magstripe cards (depending on the model). It also has an app management feature that lets merchants upload and access third-party business apps for things like inventory management, loyalty programs, and returns.
Why it’s worth watching: mPOS tech offers distinct advantages for both small and large businesses compared with traditional POS terminals.
Adyen’s opportunity: Adyen can use its new mPOS offering to target both small and large businesses that may want to ramp up in-person retail activities during pandemic reopenings. The solution can help Adyen penetrate the small business arena and offer its enterprise customers—which generated 97% of its volume in H1 2021—a value-added product that complements their other payment tools.
The solution also helps Adyen gain a stronger in-store retail foothold, which still makes up the majority of total retail sales in markets like the UK and the US. And it opens a cross-selling opportunity for Adyen by encouraging merchants that want to limit costs through more interconnected payments systems to use its other payment services.
Related content: Check out the Mobile section of “The Payments Ecosystem” report to learn how providers are expanding payment acceptance offerings.