|By RealWire News Distribution||
|June 26, 2014 04:55 AM EDT||
- Cash flow identified as the biggest barrier to growth for micro-businesses
- Existing mPOS solutions fail to tackle this challenge
- Kalixa launches Kalixa Pro, offering the fastest settlement on the market to address merchants' needs
London - 26th June 2014 - 'mPOS attitudes and adoption', carried out by research firm MobileSquared on behalf of Kalixa Group, reveals that only 2% of micro-businesses in the UK use a Mobile Point-of-Sale (mPOS) to accept payments. It also identifies the number one barrier to business growth is cash flow. mPOS solutions enable businesses to accept a card payment using a smartphone instead of a traditional fixed point-of-sale terminal.
The research is based on responses from more than 1,000 UK micro-businesses (businesses of between one and nine employees in size) including market traders, fast food outlets, independent retailers, and mobile caterers. The announcement corresponds with the launch of Kalixa Pro, a low cost small business payment solution that includes a mPOS product.
The need for mPOS
The research reveals that many micro-businesses identify cash flow (45%) as the number one barrier to growth. In addition, nearly half (48%) of micro-businesses surveyed miss sales or face delayed settlement, with one in ten saying they miss sales because they don't have the required payment capability. And more than half of respondents believe multi-channel payments will be important in the future.
Micro-businesses are looking to mPOS technology to help solve these challenges. 19% believe mPOS will help with cash flow and 17% expect it to remove payment issues. An encouraging 38% of respondents say they will adopt mPOS in the near future as long as their concerns are addressed. Given mPOS is a relatively new technology and micro-businesses are typically hard to reach, it is surprising that 47% of respondents correctly identified the actual definition of an mPOS.
Despite clear interest, understanding and awareness of mPOS, adoption remains exceptionally low. Just 2% of respondents currently use mPOS technology. One major reason is that current mPOS and POS offerings are too slow to settle payments and help businesses' improve cash flow. The majority of existing mPOS services takes between 7-10 days to settle payments.
The research also reveals that mPOS security (56%) and connectivity (29%) are major concerns among micro-businesses.
Kalixa Pro is unique in that it overcomes the cash flow barrier challenge faced by micro-businesses by offering settlement in three business days - less than half the time of the majority of competitors. To truly disrupt the mPOS market, later this year Kalixa will extend its service to offer a fully integrated small business payments account. The account will enable micro-businesses to accept multi-channel payments using the mPOS and Kalixa's online payments gateway, as well as access and make payments across all their settled funds using a prepaid MasterCard®.
"Micro-businesses are missing sales and face delayed settlement, with many citing current payment technology as the culprit and mobile as part of the solution. Yet market adoption simply isn't there," said Colin Swain, Global Head of Product at Kalixa Group. "We listened to what small businesses needed and have launched a unique service proposition that addresses these needs. We're focused on helping to solve the cash flow challenge and provide merchants with an integrated service that takes care of all their payment needs - whether it's making or accepting payments via mobile, online or on the high street.
"However, services can only go so far in solving the adoption problem. According to the research, with the right education 38% of businesses will adopt mPOS in the near future. The UK payments industry needs to tackle the issues of security and connectivity by educating consumers about how safe it is to accept cards using an mPOS, and educating businesses about how next generation networks are delivering near-ubiquitous connectivity. Kalixa is committed to working with the industry to educating consumers and businesses," Swain added.
"Our extensive research talking to micro-businesses revealed that investment in an mPOS device is a major consideration for the majority of these companies that can often take 12-18 months to make, even though there is a marked increase in sales once that decision has been made," said Nick Lane, Chief Analyst at mobilesquared. "It is clear from the research that education is key to addressing micro-business concerns around settlement speed, security and connectivity, but also to educate micro businesses and their customers that the 'calculator-like' device is as trustworthy and safe as every other POS device."
Notes to editors:
For an executive summary of 'mPOS attitudes and adoption', the infographic, or images of Kalixa Pro please visit: http://goo.gl/g4tzJW
Kalixa Pro is a pay as you go service with no monthly contract or annual fees. Card fees are set at 1.99% for every transaction, and the device costs £59.99 + VAT.
- mobilesquared surveyed 1,005 micro-businesses from across the UK
- Micro-businesses were classed as having between one and nine employees
- The research was conducted in January and February 2014
About Kalixa Group
Kalixa Group is one of the world's top five payment services providers, based on capability and range of payment options.
With its single payments platform, the Kalixa Group provides merchants of all sizes with omni-channel payments from one supplier. It delivers value to customers by reducing costs, eliminating complexity, boosting operational efficiencies, creating new revenue streams and delivering a seamless, intelligent and frictionless payments experience across multiple channels.
Kalixa's four core products are Kalixa Pay, a prepaid e-wallet with 200,000 users across Europe, Kalixa Pro, an mPOS for small businesses and sole traders, Kalixa Accept, which allows merchants to accept more than 200 payment methods and the PXP Payment Gateway with customers including Urban Outfitters, Intercontinental Hotel Group, bwin.party and MasterCard.
Kalixa Group has an addressable market of more than 100 countries worldwide. It has over 200 employees internationally and offices in London, Gibraltar, Cologne, Vienna and New York.
For more information visit: www.kalixa.com
Sarah Wilson, CCgroup
Tel +44 20 7535 7217
Charlotte Abbott, CCgroup
Tel +44 20 7535 7208
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
Oct. 24, 2016 11:45 AM EDT Reads: 1,504
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Oct. 24, 2016 11:45 AM EDT Reads: 1,302
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Oct. 24, 2016 10:45 AM EDT Reads: 3,849
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Oct. 24, 2016 10:30 AM EDT Reads: 2,530
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Oct. 24, 2016 10:30 AM EDT Reads: 2,087
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
Oct. 24, 2016 10:30 AM EDT Reads: 823
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service.
Oct. 24, 2016 10:15 AM EDT Reads: 1,057
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Oct. 24, 2016 10:00 AM EDT Reads: 4,491
Effectively SMBs and government programs must address compounded regulatory compliance requirements. The most recent are Controlled Unclassified Information and the EU’s GDPR have Board Level implications. Managing sensitive data protection will likely result in acquisition criteria, demonstration requests and new requirements. Developers, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by incorporating changes.
Oct. 24, 2016 09:45 AM EDT Reads: 1,685
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 24, 2016 09:15 AM EDT Reads: 4,668
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Oct. 24, 2016 09:00 AM EDT Reads: 2,310
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Oct. 24, 2016 09:00 AM EDT Reads: 3,478
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Oct. 24, 2016 08:15 AM EDT Reads: 3,145
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
Oct. 24, 2016 08:00 AM EDT Reads: 853
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 24, 2016 07:30 AM EDT Reads: 2,563