Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 5.42 Billion

CAGR (2024-2029)

8.63%

Fastest Growing Segment

Fixed Point-of-Sale Terminal

Largest Market

West region


Market Overview

The India POS Terminal market was valued at USD 5.42 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 8.63% during the forecast period. The Point of Sale (POS) Terminal market in India has undergone a remarkable evolution, driven by a confluence of factors that reflect the changing dynamics of the country's retail and payments landscape. POS terminals, which facilitate electronic transactions and card-based payments, have become integral to the operations of businesses across various sectors. The Indian POS Terminal market has experienced substantial growth, influenced by government initiatives, changing consumer preferences, the digital transformation of the economy, and the ongoing expansion of organized retail and e-commerce sectors. One of the key drivers of the Indian POS Terminal market is the government's concerted effort to promote digital payments and financial inclusion. Initiatives like "Digital India" and "Make in India" have played a pivotal role in encouraging the adoption of electronic payment methods and the proliferation of POS terminals. These initiatives aim to create a digitally empowered society by expanding the reach of digital financial services to every corner of the country. Furthermore, the demonetization drive in 2016, which aimed to curb black money and promote cashless transactions, accelerated the shift towards digital payments. This policy move had a profound impact on businesses, compelling them to invest in POS infrastructure to meet the changing payment landscape.

Additionally, the growth of India's middle-class population and the corresponding rise in consumer spending have fueled the expansion of organized retail sectors such as supermarkets, hypermarkets, and shopping malls. These modern retail outlets increasingly rely on POS terminals to enhance the shopping experience for customers and facilitate secure and efficient transactions. Moreover, the proliferation of the e-commerce industry has created a robust demand for POS terminals among small and medium-sized online sellers who cater to urban and rural markets alike. The COVID-19 pandemic, which disrupted traditional business models and consumer behavior, further accelerated the adoption of digital payment methods and contactless transactions. This surge in demand for contactless payments drove the need for POS terminals equipped with advanced features such as Near Field Communication (NFC) and QR code scanning capabilities. Businesses, driven by safety concerns, rapidly deployed touchless payment options to minimize physical contact between customers and payment terminals. As a result, POS terminals have emerged as vital tools in mitigating the risks associated with cash handling during the pandemic.

The Indian POS Terminal market is characterized by a competitive landscape, with a mix of global and domestic players offering a diverse range of products and services. These players continually innovate to cater to the evolving needs of businesses and consumers. In recent years, there has been notable innovation in the form of mobile POS solutions, which enable smaller businesses, street vendors, and service providers to accept card payments using smartphones and tablets. This democratization of payment acceptance has expanded the reach of digital payments across various segments of the economy. Looking ahead, the Indian POS Terminal market is poised for sustained growth, with several factors shaping its trajectory. Government-led initiatives will likely continue to play a significant role in promoting digital payments and driving the adoption of POS terminals. Security will be a paramount concern, with businesses and consumers alike demanding robust measures to safeguard sensitive payment data and protect against fraud and data breaches.

Moreover, the integration of additional services into POS systems, such as inventory management, customer relationship management (CRM), and analytics, is expected to gain prominence. This integration will enhance the value proposition of POS solutions, enabling businesses to streamline operations and gain deeper insights into customer behavior and preferences. Such multifunctional POS terminals will be particularly appealing to businesses seeking to optimize their processes and provide a seamless shopping experience to customers.

In conclusion, the Indian POS Terminal market has undergone remarkable growth, driven by government initiatives, changing consumer preferences, and technological advancements. POS terminals have become indispensable tools in facilitating secure and convenient electronic payments across a wide spectrum of businesses and industries. As India continues its journey of digital transformation, the POS Terminal market is poised to remain at the forefront, adapting to the evolving needs of businesses and consumers in the dynamic Indian economy.

Key Market Drivers

Government Initiatives Promoting Digital Payments

One of the primary drivers fueling the growth of the Point of Sale (POS) Terminal market in India is the concerted effort by the government to promote digital payments. India's digital transformation journey received a significant boost through initiatives like "Digital India" and "Make in India." These programs aimed to create a digitally empowered society by expanding the reach of digital financial services to every corner of the country. As a result, there has been a considerable push towards cashless transactions, which has significantly increased the demand for POS terminals. The demonetization drive in November 2016 was a pivotal moment in this journey. It aimed to curb black money and promote a cashless economy, leading to a sudden surge in demand for digital payment solutions, including POS terminals. Businesses across sectors quickly adapted to this changing landscape, investing in POS infrastructure to accommodate the growing number of consumers who preferred electronic payment methods over cash. The government's continued commitment to digitalization and financial inclusion ensures that the demand for POS terminals in India will remain robust.

Expanding Organized Retail and E-commerce Sectors

The expansion of organized retail sectors, including supermarkets, hypermarkets, and shopping malls, along with the booming e-commerce industry, has been a significant driver of the Indian POS Terminal market. The growth of the middle-class population and increasing consumer spending have fueled the development of modern retail formats. These outlets rely extensively on POS terminals to enhance the shopping experience for customers and facilitate secure and efficient transactions. Organized retailers understand the importance of offering multiple payment options to meet customer preferences, whether in-store or online. POS terminals enable them to cater to this need effectively. Additionally, the rise of e-commerce has led to an increased need for POS solutions among small and medium-sized online sellers. These businesses operate in both urban and rural markets, further expanding the penetration of POS terminals across India. The COVID-19 pandemic has further accelerated the adoption of digital payment methods, as consumers shifted towards contactless transactions for safety reasons. This trend has emphasized the importance of POS terminals in providing a secure and convenient payment experience, both in physical stores and during online shopping.

Accelerated Adoption of Contactless Payments

The COVID-19 pandemic dramatically accelerated the adoption of contactless payment methods in India, which, in turn, drove the demand for POS terminals with advanced features like Near Field Communication (NFC) and QR code scanning capabilities. With safety concerns in mind, businesses swiftly implemented touchless payment options to minimize physical contact between customers and payment terminals. Consumers, too, became more receptive to contactless payments during the pandemic, as they sought safer ways to transact. POS terminals with contactless payment capabilities allowed retailers to meet this demand effectively. The convenience and security of contactless payments have further solidified the role of POS terminals in the modern payment landscape. Businesses across various sectors, from retail and hospitality to healthcare and transportation, have recognized the importance of offering contactless payment options to provide a safer and more convenient experience for their customers. Consequently, the demand for POS terminals with these capabilities is expected to remain strong, even beyond the pandemic.

Competitive Landscape and Innovation

The Indian POS Terminal market is characterized by a highly competitive landscape, featuring a mix of global and domestic players offering a diverse range of products and services. This competitive environment has fueled innovation and product development in the sector. One noteworthy innovation in recent years has been the emergence of mobile POS (mPOS) solutions. These solutions enable businesses of all sizes, including small and medium-sized enterprises (SMEs) and street vendors, to accept card payments using smartphones and tablets. This democratization of payment acceptance has significantly expanded the reach of digital payments across various segments of the economy. To remain competitive, POS terminal providers continually invest in research and development to cater to the evolving needs of businesses and consumers. The emphasis is on enhancing security features to address concerns related to fraud and data breaches. Additionally, the integration of additional services into POS systems, such as inventory management, customer relationship management (CRM), and analytics, is gaining prominence. These multifunctional POS terminals offer businesses the opportunity to optimize their operations and gain deeper insights into customer behavior and preferences.

 

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Key Market Challenges

Security Concerns and Data Privacy

One of the foremost challenges confronting the Indian POS Terminal market is the ever-increasing concern over security and data privacy. As digital payments become more prevalent, the potential for cyber threats, fraud, and data breaches has grown substantially. POS terminals are integral to processing sensitive financial information, including credit card details and personal identification data, making them a prime target for malicious actors. The challenge of security extends to various dimensions. First and foremost is the need to protect the integrity and confidentiality of customer data. Any compromise in this regard can result in significant financial losses, regulatory penalties, and reputational damage for businesses. Moreover, the Payment Card Industry Data Security Standard (PCI DSS) mandates strict compliance requirements for organizations handling payment card data, further increasing the pressure on businesses to maintain robust security measures.

The rise of contactless and online payments, accelerated by the COVID-19 pandemic, has introduced new security challenges. While contactless payments offer convenience and speed, they also pose risks related to unauthorized access and data interception. POS terminals with Near Field Communication (NFC) capabilities, commonly used for contactless payments, must implement strong encryption and authentication measures to ensure the security of transactions. Additionally, the Indian regulatory landscape is evolving to address data privacy concerns. The Personal Data Protection Bill, 2019, which is expected to become law soon, will introduce stringent data protection requirements, imposing stricter penalties for data breaches and non-compliance. POS terminal providers and businesses using these terminals will need to adapt to these regulations and invest in data protection mechanisms to mitigate risks effectively.

Rapid Technological Advancements and Compatibility Issues

While technological advancements present opportunities for innovation and growth, they also pose significant challenges for the Indian POS Terminal market. The rapid pace of technological evolution can result in compatibility issues, forcing businesses to continuously invest in upgrading their POS infrastructure to remain competitive. One of the key challenges in this regard is the need to keep pace with changing payment technologies. The introduction of new payment methods, such as mobile wallets, Unified Payments Interface (UPI), and Bharat QR, requires POS terminals to support diverse payment options. Ensuring that POS devices are compatible with the latest payment technologies can be both time-consuming and costly for businesses.

Moreover, the emergence of cloud-based POS solutions and Software-as-a-Service (SaaS) models is transforming the POS landscape. Cloud-based POS systems offer scalability, flexibility, and remote management capabilities, making them attractive to businesses. However, the adoption of these solutions may necessitate significant changes to existing POS hardware and software infrastructure. Interoperability is another challenge within the Indian POS Terminal market. As different businesses adopt various POS solutions, ensuring seamless communication and compatibility between these systems can be complex. Compatibility issues can lead to disruptions in operations, delays in transaction processing, and customer dissatisfaction. In a highly competitive market, businesses must prioritize interoperability to offer a consistent and user-friendly payment experience.

Key Market Trends

Rise of Contactless and Mobile Payments

One of the prominent trends shaping the Indian POS Terminal market is the rapid rise of contactless and mobile payments. This trend has gained significant momentum in recent years, driven by changing consumer preferences, technological advancements, and the impact of the COVID-19 pandemic. Contactless payments, which include Near Field Communication (NFC) and Quick Response (QR) code-based transactions, have gained widespread acceptance among Indian consumers. Contactless payments offer a convenient and hygienic alternative to cash transactions, allowing customers to make payments swiftly by simply tapping their cards or mobile devices on the POS terminal. This trend has been further accelerated by the pandemic, as consumers prioritize touchless and secure payment methods to minimize physical contact.

The adoption of mobile payment platforms and digital wallets has also played a pivotal role in the growth of contactless payments in India. Payment apps like Google Pay, PhonePe, and Paytm have gained massive user bases, and they facilitate seamless transactions at both physical and online stores. POS terminals equipped with NFC technology are crucial in enabling these mobile payment options, and businesses are increasingly investing in such terminals to cater to the evolving preferences of their customers. Moreover, government initiatives such as the Unified Payments Interface (UPI) and Bharat QR have contributed to the proliferation of QR code-based payments. These initiatives have standardized QR code formats, making it easier for businesses of all sizes to accept digital payments. As a result, QR code payments have become a ubiquitous feature at small kirana stores, street vendors, and even restaurants, further driving the demand for POS terminals capable of supporting QR code transactions.

Integration of Additional Services and Analytics

Another noteworthy trend in the Indian POS Terminal market is the integration of additional services and analytics capabilities into POS systems. POS terminals are evolving from simple transaction-processing tools to multifunctional platforms that offer a wide range of services beyond payments. One key aspect of this trend is the integration of inventory management systems with POS terminals. Businesses, especially those in the retail sector, are increasingly adopting POS solutions that allow them to efficiently track and manage inventory in real-time. This integration streamlines operations, reduces manual errors, and ensures that businesses can optimize their stock levels to meet customer demand effectively.

Customer relationship management (CRM) features are also being incorporated into POS systems. This enables businesses to gather valuable customer data during transactions, including purchase history and preferences. With this information, businesses can personalize marketing efforts, offer targeted promotions, and enhance the overall customer experience. Furthermore, analytics and reporting capabilities are becoming integral to POS solutions. Advanced POS terminals can generate detailed sales reports, helping businesses gain insights into their performance, identify trends, and make informed decisions. These analytics also assist businesses in optimizing pricing, inventory, and staffing based on historical sales data. The integration of loyalty programs into POS systems is another trend gaining traction. Loyalty programs encourage repeat business by rewarding customers for their loyalty with discounts, points, or exclusive offers. Modern POS terminals can seamlessly manage these programs, making it easier for businesses to implement and track customer loyalty initiatives.

Shift Towards Cloud-Based POS Solutions

Cloud-based Point of Sale (POS) solutions are gaining significant traction in the Indian market, marking a notable trend in the POS Terminal landscape. This shift towards cloud-based POS systems reflects the evolving needs of businesses, offering advantages such as scalability, flexibility, cost-effectiveness, and remote management. Traditional POS systems often require on-premises hardware and software installations, making them relatively rigid and less adaptable to changing business environments. In contrast, cloud-based POS solutions operate on remote servers, accessible via the internet. This cloud-centric approach provides businesses with several key benefits.

First and foremost, scalability is a major advantage of cloud-based POS systems. Businesses can easily adjust the number of terminals and services based on seasonal demand or business growth without the need for extensive hardware upgrades. This scalability is particularly beneficial for businesses with fluctuating transaction volumes, such as restaurants and event venues. Flexibility is another driving force behind the adoption of cloud-based POS solutions. Businesses can access their POS systems from anywhere with an internet connection, enabling remote management and real-time monitoring of sales and inventory. This flexibility is especially valuable for owners and managers who need to oversee multiple locations or wish to monitor operations while off-site. Cost-effectiveness is a significant factor, especially for small and medium-sized enterprises (SMEs). Cloud-based POS systems typically require lower upfront hardware costs compared to traditional solutions. Moreover, they often operate on a subscription-based model, reducing the burden of maintenance, updates, and support, which are typically handled by the service provider.

Segmental Insights

Type Insights

Based on type, the fixed point-of-sale terminal segment emerges as the predominant segment in the India POS Terminal market, exhibiting unwavering dominance projected throughout the forecast period. Fixed POS terminals are characterized by their stationary nature, typically stationed at specific checkout counters or locations within retail stores, restaurants, and various businesses. Their unwavering dominance can be attributed to several factors. Firstly, fixed POS terminals offer stability and reliability, which are essential for businesses that require consistent transaction processing. Additionally, they often come equipped with advanced features such as touchscreen displays, integrated software for inventory management and sales analytics, and compatibility with various payment methods, including contactless and mobile payments. This comprehensive functionality, combined with the familiarity and trust associated with fixed POS systems, ensures their continued prominence in the Indian market, catering to the diverse needs of businesses across different sectors.

End User Insights

Based on end user, the retail segment in the India POS Terminal market emerges as a formidable frontrunner, exerting its dominance and shaping the market's trajectory throughout the forecast period. Retail businesses, ranging from small shops to sprawling supermarket chains, have increasingly embraced POS terminals as indispensable tools for enhancing customer service, streamlining operations, and facilitating secure payment processing. The dominance of the retail segment can be attributed to several key factors. Firstly, the retail sector in India has experienced significant growth, driven by the expanding middle-class population and increased consumer spending. As retailers strive to provide a seamless shopping experience, they rely heavily on POS terminals to manage inventory, track sales, and offer various payment options, including contactless and mobile payments, in response to changing customer preferences. The COVID-19 pandemic further accelerated the adoption of POS technology in the retail sector, as businesses sought to minimize physical contact and enhance safety measures. Given the sector's unwavering commitment to innovation and customer-centric solutions, the retail segment is expected to continue shaping the India POS Terminal market's trajectory, ensuring that it remains a pivotal component of the nation's evolving payment ecosystem.

 

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Regional Insights

The West region in India has unquestionably established a commanding presence within the nation's POS Terminal market. Comprising major commercial hubs such as Mumbai, Pune, and Ahmedabad, this region has witnessed remarkable economic growth and urbanization over the years. The bustling metropolises and thriving business ecosystems in the West have created a fertile ground for the adoption of POS terminals across various industries. Among these, the retail sector stands out as a key driver, with organized retail chains, supermarkets, and restaurants relying heavily on POS solutions to streamline operations and enhance customer experiences. Furthermore, the Western region's financial and technological prowess has facilitated the rapid integration of advanced POS technologies, including contactless payments and data analytics. This dynamic landscape, characterized by a mix of traditional and cutting-edge businesses, ensures the enduring dominance of the Western region within India's POS Terminal market. Its economic vibrancy, coupled with a willingness to embrace technological innovations, continues to shape the trajectory of the POS industry in India's Western region.

Recent Developments

  • In September 2023, Paytm, one of India's leading digital payment and financial technology companies, unveiled an innovative product known as the "soundbox." This device is designed to revolutionize the way card payments are accepted, especially in areas with limited internet connectivity or in remote locations. The Paytm soundbox, priced at USD 12, offers a cost-effective and user-friendly solution for merchants and businesses to accept card payments. This portable device relies on soundwave technology to facilitate transactions. When a customer wants to make a payment using their debit or credit card, the soundbox emits a unique soundwave that carries the transaction data. The customer's smartphone, equipped with the Paytm app, captures this soundwave, decrypts the data, and processes the payment seamlessly.
  • In August 2023, BharatPe, a prominent player in India's digital payments and fintech sector, introduced an innovative Android-based Point-of-Sale (POS) terminal designed to revolutionize and streamline digital payments for businesses across the country. This groundbreaking POS terminal leverages the versatility and familiarity of the Android operating system to offer a wide range of features and functionalities. It provides businesses, especially small and medium-sized enterprises (SMEs) and merchants, with a powerful tool to accept various digital payment methods, including debit and credit cards, mobile wallets, and UPI (Unified Payments Interface) payments. The Android-based POS terminal from BharatPe aims to simplify the payment acceptance process, enhance efficiency, and offer a seamless experience to both businesses and customers. It comes equipped with a user-friendly interface, allowing merchants to manage transactions, track sales, and generate digital receipts with ease. Additionally, the terminal can connect to the internet via Wi-Fi or mobile data, ensuring uninterrupted service even in areas with limited connectivity.

Key Market Players

  • Verifone Systems India Pvt. Ltd.
  • Ingenico India Pvt. Ltd.
  • Pax India Pvt. Ltd.
  • Mswipe Technologies Pvt. Ltd.
  • Pine Labs Pvt. Ltd.
  • Infibeam Avenues Ltd.(BillDesk)
  • One97 Communications Ltd. (Paytm)
  • Amazon India Pvt. Ltd. (Amazon Pay)
  • Flipkart Payments Pvt. Ltd. (PhonePe)
  • Google India Pvt. Ltd. (Google Pay)

By Component

By Type

By End User

By Region

  • Hardware
  • Software
  • Services
  • Fixed Point-of-Sale Terminal
  • Mobile/Portable Point-of-Sale Terminal
  • Entertainment
  • Restaurants
  • Hospitality
  • Healthcare
  • Warehouse/ Distribution
  • Retail
  • Other
  • East Region
  • West Region
  • North Region
  • West Region

 

Report Scope:

In this report, the India POS Terminal market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • India POS Terminal Market, By Component:

o   Hardware

o   Software

o   Services

  • India POS Terminal Market, By Type:

o   Fixed Point-of-Sale Terminal

o   Mobile/Portable Point-of-Sale Terminal

  • India POS Terminal Market, By End User:

o   Entertainment

o   Restaurants

o   Hospitality

o   Healthcare

o   Warehouse/ Distribution

o   Retail

o   Other

  • India POS Terminal Market, By Region:

o   East Region

o   West Region

o   North Region

o   West Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the India POS Terminal Market.

Available Customizations:

India POS Terminal market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

India POS Terminal Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.  Markets Covered

1.2.2.  Years Considered for Study

1.2.3.  Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

4.    Impact of COVID-19 on India POS Terminal Market

5.    Voice of Customer

6.    India POS Terminal Market Overview

7.    India POS Terminal Market Outlook

7.1.  Market Size & Forecast

7.1.1.       By Value

7.2.  Market Share & Forecast

7.2.1.      By Component (Hardware, Software, and Services)

7.2.2.      By Type (Fixed Point-of-Sale Terminal, Mobile/Portable Point-of-Sale Terminal)

7.2.3.      By End User (Entertainment, Restaurants, Hospitality, Healthcare, Warehouse/ Distribution, Retail, and Other)

7.2.4.      By Region (East, North, West, and South)

7.2.5.      By Company (2022)

7.3.  Market Map

8.    East Region India POS Terminal Market Outlook

8.1.  Market Size & Forecast

8.1.1.       By Value

8.2.  Market Share & Forecast

8.2.1.      By Component

8.2.2.      By Type

8.2.3.      By End User

9.    North Region India POS Terminal Market Outlook

9.1.  Market Size & Forecast

9.1.1.       By Value

9.2.  Market Share & Forecast

9.2.1.      By Component

9.2.2.      By Type

9.2.3.      By End User

10. West Region India POS Terminal Market Outlook

10.1.   Market Size & Forecast

10.1.1.    By Value

10.2.   Market Share & Forecast

10.2.1.    By Component

10.2.2.    By Type

10.2.3.    By End User

11. South Region India POS Terminal Market Outlook

11.1.   Market Size & Forecast

11.1.1.    By Value

11.2.   Market Share & Forecast

11.2.1.    By Component

11.2.2.    By Type

11.2.3.    By End User

12. Market Dynamics

12.1.   Drivers

12.2.   Challenges

13. Market Trends and Developments

14. Company Profiles

14.1.   Verifone Systems India Pvt. Ltd.

14.1.1. Business Overview

14.1.2. Key Financials & Revenue

14.1.3. Key Contact Person

14.1.4. Headquarters Address

14.1.5. Key Product/Service Offered

14.2.   Ingenico India Pvt. Ltd.

14.2.1. Business Overview

14.2.2. Key Financials & Revenue

14.2.3. Key Contact Person

14.2.4. Headquarters Address

14.2.5. Key Product/Service Offered

14.3.   Pax India Pvt. Ltd.

14.3.1. Business Overview

14.3.2. Key Financials & Revenue

14.3.3. Key Contact Person

14.3.4. Headquarters Address

14.3.5. Key Product/Service Offered

14.4.   Mswipe Technologies Pvt. Ltd.

14.4.1. Business Overview

14.4.2. Key Financials & Revenue

14.4.3. Key Contact Person

14.4.4. Headquarters Address

14.4.5. Key Product/Service Offered

14.5.   Pine Labs Pvt. Ltd.

14.5.1. Business Overview

14.5.2. Key Financials & Revenue

14.5.3. Key Contact Person

14.5.4. Headquarters Address

14.5.5. Key Product/Service Offered

14.6.   Infibeam Avenues Ltd. (BillDesk)

14.6.1. Business Overview

14.6.2. Key Financials & Revenue

14.6.3. Key Contact Person

14.6.4. Headquarters Address

14.6.5. Key Product/Service Offered

14.7.   One97 Communications Ltd. (Paytm)

14.7.1. Business Overview

14.7.2. Key Financials & Revenue

14.7.3. Key Contact Person

14.7.4. Headquarters Address

14.7.5. Key Product/Service Offered

14.8.   Amazon India Pvt. Ltd. (Amazon Pay)

14.8.1. Business Overview

14.8.2. Key Financials & Revenue

14.8.3. Key Contact Person

14.8.4. Headquarters Address

14.8.5. Key Product/Service Offered

14.9.   Flipkart Payments Pvt. Ltd. (PhonePe)

14.9.1. Business Overview

14.9.2. Key Financials & Revenue

14.9.3. Key Contact Person

14.9.4. Headquarters Address

14.9.5. Key Product/Service Offered

14.10. Google India Pvt. Ltd. (Google Pay)

14.10.1.  Business Overview

14.10.2.  Key Financials & Revenue

14.10.3.  Key Contact Person

14.10.4.  Headquarters Address

14.10.5.  Key Product/Service Offered

15. Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the India POS Terminal market was estimated to be USD 5.42 Billion in 2023.

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Hardware was the dominant segment by component in the India POS Terminal market. Its prominence can be attributed to the critical role it plays in the seamless functioning of point-of-sale operations across various industries. Businesses, from retail establishments to hospitality services and beyond, rely on robust and reliable hardware to facilitate efficient transactions and deliver superior customer experiences.

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Key players in the market are Verifone Systems India Pvt. Ltd., Ingenico India Pvt. Ltd., Pax India Pvt. Ltd., Mswipe Technologies Pvt. Ltd., Pine Labs Pvt. Ltd., Infibeam Avenues Ltd. (BillDesk), One97 Communications Ltd. (Paytm), Amazon India Pvt. Ltd. (Amazon Pay), Flipkart Payments Pvt. Ltd. (PhonePe), Google India Pvt. Ltd. (Google Pay), and others.

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Government initiatives promoting digital payments, accelerated adoption of contactless payments and expanding organized retail & e-commerce sectors are the major drivers for the India POS Terminal market.

profile

Sakshi Bajaal

Business Consultant
Press Release

India POS Terminal Market to be Led by Accelerated Adoption of Contactless Payments

Nov, 2023

Government Initiatives Promoting Digital Payments propelling India POS Terminal market during the Forecast Period 2019-2029