Banks can now reduce the cost of setting up electronic data capture (EDC) terminals substantially. For the first time, these EDC machines are set to be manufactured in the country.
Visa International is in talks with some of the Indian manufacturers in this regard. If the talks fructify, the cost of setting up EDCs in the country could fall by as much as 50 per cent.
Santanu Mukherjee, country manager, South Asia, Visa International, said,