The digital payments infrastructure in India is expected to rise three-fold by the end of 2017 with almost five million electronic point of sale (PoS) machines, said the Ministry of Electronics and IT (MeitY).
“We expect that by December, the number will actually go up to five million PoS, which means that the infrastructure for digital payments is going to grow three times in the short span of one year,” said Aruna Sundararajan, secretary at MeitY.
“The use of PoS machines in the country has already doubled since the government’s demonetisation move,” she added.
“We know that in the last 30 years… or even a little longer… since the digital payments have been around, we had about 1.5 million electronic PoS (machines). In the last four months since demonetisation, this number has doubled and today we are at three million PoS,” she said.
Sundararajan spoke at the launch of a joint report by the Internet and Mobile Association of India (IAMAI) and Nielsen titled ‘Index of Internet Readiness of Indian States’.