Market Challenges And Opportunities

Growing concerns relating to security breach and loss of personal information is expected to hinder the growth of the global mobile card reader market

Increasing number of fraudulent activities and security breaches over the past few years has led to major concerns for people’s personal information and credentials security. Moreover, the technology is in its nascent adoption stage and the consumer confidence for adoption of the technology is relatively low in comparison to other payment means. Inadvertently, presence of large number of cash based economies that includes Mexico, India, Indonesia, Pakistan, Nigeria, Ethiopia and Egypt among many others, will also present considerable growth challenge over the next few years.