Market Share of India POS Terminals Industry
The Indian POS terminal market is moderately competitive, with a considerable number of regional players. Some of the major players in the market are VeriFone, Inc., Worldline, Ezetap (Razorpay), MobiSwipe Technologies Private Limited, and Mswipe Technologies Pvt Ltd. The companies are leveraging strategic collaborative initiatives and acquisitions to increase market share and profitability.
In May 2023, Pine Labs and ICICI Bank started working together to let people use digital money at stores in Mumbai and Bengaluru. Pine Labs was to use special machines to accept this digital money called e-rupee. They were to use a special code that can change and will be on their Android machines.
In June 2022, Bajaj Finance Limited, the lending division of Bajaj Finserv Limited, joined up with Worldline, a multinational provider of payment services, in order to provide point-of-sale (POS) payments acquiring solutions for its merchant network, by offering point-of-sale terminals and enabling the acceptance of a wide range of payment instruments on those terminals, such as equated monthly installments (EMI) cards, credit cards, and others.
In March 2022, the first end-to-end POS payment processing system of its sort in India was introduced by Mumbai-based pay tech service provider Lyra Network India. The POS software solution was introduced in the location where Lyra Town Hall is now located. A safe framework for POS systems is provided by this end-to-end solution. This solution is applicable to Android POS systems as well as Micro ATM services.
India POS Terminals Market Leaders
VeriFone, Inc.
Worldline
Ezetap (Razorpay)
MobiSwipe Technologies Private Limited
Mswipe Technologies Pvt Ltd.
*Disclaimer: Major Players sorted in no particular order
