A new study has found the total number of merchants deploying soft POS solutions will surpass 34.5 million globally by 2027, rising from 6 million in 2022.
Soft POS enables NFC enabled smartphones or tablets to accept contactless payments, without additional hardware and the growth will be driven by Apple’s entrance into the soft POS space, enabling iOS users to access an affordable mobile POS solution.
1.2 billion iOS users added to market
The research forecasts that Apple’s decision to enable third parties to develop soft POS solutions leveraging iOS NFC capabilities will result in an influx of iOS-specific services, leading to innovative solutions for merchants.
Further, the research predicts Apple’s entry will provide 1.2 billion iOS users with such capabilities, unlocking a previously untapped market.
Vendors should leverage Apple’s payment ecosystem by developing innovative solutions such as integrated QR payment acceptance, using Apple Pay and Pay Later compatibility to attract a broader iOS user base.