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Point of Sale Terminals Lose Charm as Demonetization Impact Diminishes
February 22, 2018
As per the data with the Reserve Bank of India (RBI), the deployment of Point of Sale (PoS) terminals across the nation has become slow compared to the impressive growth observed after the “note ban” drive.
The data shows that the total number of PoS terminals in India stood at 2.9 million between September and November 2017, although they grew nearly 8% to 2.7 million between March and June, and a whopping 30% to 2.2 million between December 2016 and February 2017.
Although the installation of PoS terminals across India has assumed a slow pace, a large number of terminals that are already deployed are also being returned by the merchants due to the lack of traction.