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Huawei Launches Digital Wallet for Retail POS Sales in Thailand

June 30, 2020 / Chris Burt
SHARESHARESHARE

Mobile POS systems will be used by 23 percent of people globally by 2024, with biometrics among significant new trends emerging in the space, according to a survey from Buyshares.co.uk. That will mean 1.75 billion mobile users adopting device-based POS interactions, and the research also shows, somewhat surprisingly, that POS transaction value will increase by 180 percent over the forecast period. In 2020, roughly 1.17 billion people used mobile devices with POS systems, according to Buyshares.co.uk, with transactions totaling nearly $1,480 billion. Lower prices for POS devices are helping to boost adoption, according to the report, particularly among smaller and cash-driven businesses that are struggling to retain customers. China is the top market for the payment method, at more than double the value of U.S. sales through mobile and POS-device interactions.