Thursday, 22 December 2016

For a digital change, India may need 20 lakh more PoS machines

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For quicker transition to the digital payment mode, India may need an additional 20 lakh point of sales (PoS) machines and fiscal incentives which will lure more usage, states a report by the State Bank of India. Just a month before the currency ban, Reserve Bank of India data showed that only an average of Rs 1,500 (per month) was transacted per debit card, which points to the dismally low level of tech-adoption among people.

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