NFC Times Exclusive: Mobile point-of-sale providers in Europe see significant growth in merchant numbers and transaction volumes and believe that EMV compliance will give European point-of-sale companies a leg up as they look to expand to the U.S.
The growth in Europe is part of a global trend, said Sam Shrauger, global head of digital, developed markets at Visa, speaking at last week’s NFC and Mobile Money Summit in New York.
“In 12 months between 2011 and 2012 we have seen a 111% increase in the number of mobile point-of-sale devices that are in the market, going from 4.5 million to 9.5 million in a 12 month period,” said Shrauger. Visa is an investor in U.S.-based mobile point-of-sale company Square.