The penetration of chip based payment cards is expected to be above 50% of the 10 billion banking cards in circulation by 2015, as a result of the increasing attention to security by business, consumers, and financial institutions. The recent endorsement of mobile payments by technology drivers such as Apple and Android in addition to OEM-specific deployments such as Samsung Pay, is expected to provide an additional boost to contactless based mobile payment applications. Moreover, wearables are appearing as a promising new payment form-factor to gain relevance in the coming years. All of this together will naturally drive an increased deployment of EMVco based traditional payment terminals (POS). It will also affect the fast expanding market of mPOS with its many related applications and opportunities, not only for micro merchants and merchants on the move, but also as new retail-based support devices in shops and commercial centers.
Introduction to payments: history, payment schemes, key actors, relevant standards and specifications
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