At many stores across the country, billing is done on wireless or handheld devices such as a smartphone or a tablet known as a mobile point of sale (POS) terminal or an mPOS. The rise of mobile apps and smartphones, along with the merging of mobile and online payment methods, is driving the adoption of mobile POS terminals, said experts.
"The current market for mobile POS in the country is witnessing significant growth driven by factors such as the proliferation of smartphones, increased internet usage, and the adoption of e-commerce," said Varun Tangri, Founder and Chief Executive Officer, Queuebuster, a Noida based POS company.
With a shift towards cashless transactions, fintech players are increasingly focusing on the pointof-sale (POS) segment, which functions as a bridge for merchants to accept electronic payments seamlessly.
"Furthermore, the Indian government's push for digital payments to promote financial inclusion and reduce cash dependency has further boosted this trend," added Tangri.
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