India’s digital payments to grow three-fold in 2017: MeitY
“We expect that by December, the number will actually go up to five million PoS, which means that the infrastructure for digital payments is going to grow three times in the short span of one year,” MeitY Secretary Aruna Sundararajan said.
Sundararajan said the use of PoS machines in the country has already doubled since the government’s demonetization move.
“We know that in the last 30 years… or even a little longer… since the digital payments have been around, we had about 1.5 million electronic PoS (machines). In the last four months since demonetization, this number has doubled and today we are at three million PoS,” she said.
Sundararajan spoke at the launch of a joint report by the Internet and Mobile Association of India (IAMAI) and Nielsen titled ‘Index of Internet Readiness of Indian States’.