Note from the Publisher: For those not in the payments industry, you’ll find this piece quite instructive on the topic of Mobile Point of Sale (MPOS), and its future implications. The examples in the story are European but investment managers should stay abreast of MPOS-related trends, as it could impact future growth for portfolios invested in the financial and retail sectors.
“FinTech has established itself as the latest trend in the startup world of 2016. FinTech startups are popping up everywhere, attempting to simplify the complex world of financial services. But with this popularity comes a shift. Banks are realizing the threat these new companies pose and are starting to invest heavily in them. With big companies partnering with small, they are all trying to position themselves right for the future of the FinTech market being created in this very moment.
One such story goes of Swedish payments giant Klarna that recently announced that they were moving beyond its online services into physical stores, which it will accomplish by partnering up with mobile point of sale (MPOS) and e-commerce company Sitoo.”