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Report Overview
The India POS device market was valued at INR 43.98 Billion in 2025. The market is expected to grow at a CAGR of 13.30% during the forecast period of 2026-2035 to reach a value of INR 153.30 Billion by 2035. Rising SME digitization and mobile POS adoption is expanding secure payment acceptance across the nation.
The market is witnessing rapid transformation, fueled primarily by the surge in digital payments across organized retail and SMEs. According to the India POS device market analysis, the country saw over 10.7 million POS terminals deployed as of April 2025, reflecting a growing demand for secure, contactless, and seamless transactions. The 2024 RBI framework for POS providers has bolstered consumer trust and compliance, prompting providers to integrate AI-driven analytics and cloud-based platforms. Furthermore, government initiatives like Digital India, Digital Payments Awareness Week, and the Payments Infrastructure Development Fund (PIDF) have expanded POS accessibility.
Strategic programs such as the Unified Payments Interface (UPI) are also driving adoption beyond traditional retail, impacting sectors like hospitality, BFSI, and healthcare. Recent innovations, including BharatPe One’s all-in-one POS device and PhonePe’s Bluetooth-enabled mPOS solutions, exemplify the India POS device market’s shift toward multifunctional, cost-effective, and inclusive payment infrastructure.
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
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As per the latest RBI data, the total number of POS machines recorded in India in May 2023 was 79.6 lakhs, up from 78.3 lakhs in April 2023, indicating a tepid growth of 1.6% month-on-month.
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As per industry reports, the POS transactions through credit cards in May 2023 saw a slight growth of 0.7% to 14.19 crore (141.9 million) transactions, compared to 14.08 crore in April 2023.
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Key players operating in the India POS device market include VeriFone, Worldline, Ezetap (Razorpay), MobiSwipe, and Mswipe.
Competitive Landscape
Key areas of emphasis for leading India POS device market players include AI-powered analytics, cloud-based device management, and mobile-first POS solutions designed for SMEs and micro-merchants. Companies are investing in developing durable, portable, and cost-effective devices that cater to high-volume retail, hospitality, and BFSI sectors. Opportunities exist in integrating contactless payments, NFC, dynamic QR codes, and biometric authentication, enhancing transaction security and operational efficiency.
Additionally, India POS device companies are exploring partnerships with banks, fintech firms, and e-commerce platforms to expand reach and diversify offerings. With the government’s Payments Infrastructure Development Fund subsidizing device deployment, businesses can target untapped rural and semi-urban markets. Innovation in multifunctional POS solutions, such as BharatPe One and Android-based mPOS devices, allows companies to differentiate, capture emerging segments, and sustain long-term growth in India’s rapidly digitizing payment ecosystem.
Apollo Global Management, Inc. (Ingenico)
Founded in 1980 and headquartered in the United States, Ingenico focuses on delivering end-to-end payment solutions in India. The company offers 5G-enabled and AI-integrated POS terminals designed for large retailers, hospitality chains, and financial institutions. Its devices support contactless, QR, and NFC payments while ensuring robust security and compliance with RBI standards.
VeriFone, Inc.
Established in 1981 and based in the United States, VeriFone provides POS devices tailored for SMEs, hospitality, and retail chains in India. The company specializes in compact, durable mPOS devices with Bluetooth, NFC, and QR code capabilities. VeriFone integrates cloud-based software for real-time reporting, inventory management, and multi-channel payment acceptance.
PAX Technology
Founded in 2000 and headquartered in Shenzhen, China, PAX Technology delivers high-performance POS devices with advanced connectivity options, including 5G and WiFi 6. PAX focuses on AI-enabled terminals, real-time analytics, and secure cloud integration, targeting organized retail, hospitality, and BFSI sectors.
Worldline S.A.
Founded in 1972 with headquarters located in France, Worldline provides omnichannel POS solutions for India’s retail and service sectors. The company offers AI-driven terminals with advanced data analytics, cloud integration, and multi-currency support. Its solutions enhance merchant efficiency, loyalty program management, and seamless customer experiences.
Other key players in the market are Razorpay Software Private Limited, Mswipe Technologies Pvt Ltd., NGX Technologies Pvt. Ltd., PayU Payments Private Limited, and Payswiff Solutions Private Limited, among others.
India POS Device Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2025, the India POS device market reached an approximate value of INR 43.98 Billion.
The market is projected to grow at a CAGR of 13.30% between 2026 and 2035.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach about INR 153.30 Billion by 2035.
Stakeholders are expanding digital payment adoption, upgrading AI and cloud capabilities, forging fintech partnerships, enhancing contactless solutions, and targeting semi-urban and rural segments to capture emerging market opportunities.
The key trends of the market include the increasing competition among retailers, integration of artificial intelligence in POS systems, and the popularity of contactless and mobile payments.
The different components of POS device are hardware and POS software and service.
The major terminal types of POS device in the market are fixed POS terminals and mobile POS terminals.
The significant industries in the market are retail, hospitality, BFSI, media and entertainment, and healthcare, among others.
The key players in the market include Apollo Global Management, Inc. (Ingenico), VeriFone, Inc., PAX Technology, Worldline S.A., Razorpay Software Private Limited, Mswipe Technologies Pvt Ltd., NGX Technologies Pvt. Ltd., PayU Payments Private Limited, and Payswiff Solutions Private Limited, among others.
High implementation costs, security compliance, connectivity issues in rural areas, intense competition, and evolving regulatory requirements pose challenges, requiring continuous innovation and investment to maintain trust and operational efficiency.
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