India POS Terminals Market is set to exceed USD 3 billion by 2024; Governmental Push Toward Cashless Economy To Drive The Growth

India POS Terminals Market was estimated to be over 450 million with the shipments growing at a CAGR of over 10% from 2017 to 2024. The growth can be credited to the growing usage and acceptance of credit & debit cards in the country. Considerable number of POS devices are being deployed across India in various sectors such as retail, restaurant, hospitality, healthcare, and entertainment which is expected to provide a widespread array of prospects for the India POS terminals market growth.

Rising deployment in India on a wide scale can be attributed to the active participation of the government and other regulatory bodies. The Reserve Bank of India (RBI) has relaxed the rules for carrying out transactions via POS terminals. Moreover, after the demonetization effect in the country, the government has been motivating banks to implement these systems to encounter the growing demand of cashless transactions. Major financial organizations in the country such as Axis, HDFC and SBI have installed more than 700,000 POS terminals owing to the growing preference for portability and connectivity which is driving the industry growth.

With retail industry becoming organized, several e-commerce channels are emerging in the country, which will offer substantial growth opportunities for the India POS terminals market. The penetration of several e-commerce channels and the need for increasing the profit is transforming the retail industry, which will further escalate the demand. The software is being adopted by retailers to improve warehouse efficiency, for building better forecasts and to enable the procurement of the right product in the right place to help satisfy consumer requirements.

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Brief Introduction: Telpo is a professional smart terminals' provider and ODM service expert, covering the point-of-sale (POS) terminals, Biometric cash register, face recognition machines, self-service kiosk, bus ticketing machines. They have served for more than 1000 customers abroad, including the platform operators, banks, biological algorithm company, operators, technology companies and even governments organizations. Telpo delicates in keeping R&D in the rapid technology evolution, in order to provide more intelligent hardware for the global partners.