Business Standard

Tuesday, January 14, 2025 | 07:40 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

The point-of-sale machine: Clearly, there is a world beyond the swipe

The point-of-sale machine has evolved from a mere swiping facility to a tool used by merchants for inventory management, bookkeeping and more

The point-of-sale machine: Clearly, there is a world beyond the swipe
Premium

Raghu Mohan
Last month, Pine Labs closed a $285-million funding round that valued it at $3.5 billion. And this, despite the pandemic which had led to a huge fall in the installed base of point-of-sale (PoS) machines — to 472 million units (in March 2021), from a life-high of 6.03 million in January 2021, according to the Paris-based Worldline’s India Digital Payments Report for Q1 2021.
 
The Reserve Bank of India’s data does not reflect a deployed base of six million units ever (it may have taken into account only “active” units). Says Deepak Chandnani, managing director for Worldline South Asia

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in