New technologies to fuel demand for POS terminals in India

Ingenico_iPP350_payment_terminalIndia’s point-of-sale (POS) terminals market is forecast to exhibit a CAGR of more than 11%, in value terms during 2017-2022, according to India POS Terminals Market By Type, By End User, Competition Forecast & Opportunities, 2012-2022 by international market research company Research and Markets.

This is primarily due to increasing government focus and initiatives aimed at digitising the country’s economy.

In 2016, the retail sector accounted for the largest market share in India’s POS terminals market, on the back of increasing awareness among retailers about the benefits of POS terminals. Research and Markets also noted increasing use of new technologies such as mobile wallets, rising demand from the urban population for more secure ways of making transactions and ease of use associated with POS terminals are expected to fuel demand for POS terminals in India during the forecast period.

The report identified major players operating in India’s POS terminals market such as Verifone India Sales, Ingenico International India, Ezetap Mobile Solutions, Mswipe Technologies, MobiSwipe Technologies, PayU Money, ePaisa, Pine Labs, PAX Technologies and Paynear One.

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