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
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