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.
Base Year
Historical Period
Forecast Period
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.
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.
Key players operating in the India POS device market include VeriFone, Worldline, Ezetap (Razorpay), MobiSwipe, and Mswipe.
Compound Annual Growth Rate
13.3%
Value in INR Billion
2026-2035
*this image is indicative*
| India POS Device Market Report Summary | Description | Value |
| Base Year | INR Billion | 2025 |
| Historical Period | INR Billion | 2019-2025 |
| Forecast Period | INR Billion | 2026-2035 |
| Market Size 2025 | INR Billion | 43.98 |
| Market Size 2035 | INR Billion | 153.30 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 13.30% |
| CAGR 2026-2035 - Market by Region | West India | 15.3% |
| CAGR 2026-2035 - Market by Terminal Type | Mobile POS Terminals | 14.6% |
| CAGR 2026-2035 - Market by Industry Vertical | Retail | 15.2% |
Organized retail chains and e-commerce platforms are reshaping India’s POS landscape. Chains like Future Group’s Big Bazaar and Reliance Retail are expanding into tier-II and tier-III cities, creating demand in the India POS device market. Efficient POS systems ensure high-volume transaction management, integrate loyalty programs, and enhance customer engagement. Government initiatives supporting digital payments, including PIDF subsidies, enable smaller merchants to adopt robust POS devices. With e-commerce sales rising annually at a considerable rate, POS devices have become essential for omnichannel retail, ensuring seamless payment processing across physical and online storefronts, reinforcing operational efficiency and revenue growth.
Next-generation POS solutions are redefining payment experiences. PAX Technology’s 5G and WiFi 6-enabled SmartPOS terminals improve transaction speed and reliability, while BharatPe One and PhonePe’s Bluetooth-enabled devices target multifunctionality and affordability. AI integration allows merchants to track inventory, optimize operations, and personalize services. The India POS device industry trend of embedding cloud-based management ensures scalability and real-time analytics, particularly in retail and BFSI. Regulatory compliance initiatives, including EMV standards and RBI oversight, further encourage technology adoption, positioning India as a hub for advanced, secure, and multifunctional POS devices.
Consumer preference for hygiene and convenience has accelerated contactless payments. Mswipe’s RBI-approved Payment Aggregator license allows SMEs and merchants to offer frictionless payment experiences. The growing ubiquity of NFC-enabled devices and dynamic QR codes enhances transaction speed and security. This trend in the India POS device market is also supported by government-led digital payment promotion campaigns, such as Digital Payments Awareness Week, which educates merchants on benefits of contactless systems, ensuring increased adoption in both organized and unorganized sectors.
AI-powered analytics and cloud connectivity are becoming essential features in modern POS solutions. These systems help merchants optimize inventory, forecast demand, and enhance customer engagement. Cloud POS platforms facilitate remote device management and centralized data access, particularly beneficial for multi-location retailers. AI-driven insights enable predictive decision-making, reducing operational inefficiencies. Government programs promoting digital literacy and infrastructure support further accelerate the India POS device market growth. Integration of AI and cloud technologies transforms POS devices from mere transaction tools into strategic business solutions, enhancing competitiveness in retail, hospitality, and BFSI sectors.
Indian government efforts, such as MeitY’s incentives for POS deployment and RBI’s PIDF fund, are directly driving the India POS device market expansion. Subsidized devices for small merchants in semi-urban and rural areas boost financial inclusion. Policy initiatives under Digital India are enhancing merchant awareness, while regulatory frameworks ensure transaction security. Public-private partnerships, combined with state-level digital payment initiatives, create a conducive ecosystem for sustainable market growth.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The EMR’s report titled “India POS Device Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
Key Insight: Hardware dominates the Indian market due to its foundational role in secure transactions, while software and services gain momentum with cloud integration, AI analytics, loyalty management, and multi-channel support. Merchants increasingly demand seamless and versatile solutions combining robust terminals, software platforms, and ongoing services. Government initiatives like PIDF subsidies and Digital Payments Awareness Week support adoption across urban, semi-urban, and rural areas.
Market Breakup by Terminal Type
Key Insight: Fixed POS currently remains central for high-volume enterprises, offering security, stability, and integration capabilities. Meanwhile, mobile terminals lead the India POS device market growth, fueled by portability, affordability, and mobile connectivity. Both terminal types complement each other, as fixed devices anchor enterprise operations while mobile solutions extend digital payments to SMEs, field services, and tier-II/III markets.
Market Breakup by Industry Verticals
Key Insight: Retail retains dominance in terms of the India POS device industry revenue share, due to high transaction volumes, omnichannel integration, and organized retail expansion. Hospitality grows at the fastest pace, fueled by post-pandemic recovery, contactless payments, and AI-driven service enhancements. BFSI, healthcare, media, and other verticals increasingly rely on POS for secure, multi-channel payment acceptance and operational optimization.
Market Breakup by Region
Key Insight: West and Central India lead the market due to commercial hubs, organized retail, and urban demand. North India grows rapidly with SME digitization, tier-II/III adoption, and supportive government programs. The South India POS device market drives innovation through tech-forward cities embracing mobile POS and AI analytics. East and Central India, though in early stages, benefit from improved connectivity and inclusion initiatives.
| CAGR 2026-2035 - Market by | Region |
| West India | 15.3% |
| North India | 14.6% |
| East and Central India | XX% |
| South India | XX% |
Hardware components dominate the market due to reliability and security
Hardware holds a dominant share of India’s POS device market, driven by the critical need for secure terminals, card readers, and printers in high-volume retail and hospitality environments. Urban and tier-I cities exhibit heightened adoption due to cashless initiatives and organized retail expansion. Devices supporting contactless, NFC, and QR payments are increasingly preferred. Advanced hardware integration with AI, biometric authentication, and cloud connectivity ensures transaction reliability and operational efficiency.
POS software and service experience rapid growth in the India POS device industry, reflecting merchants’ demand for comprehensive, business-oriented solutions. Cloud-based platforms, integrated accounting, real-time analytics, and remote device management enhance operational efficiency and profitability. SMEs and multi-location retailers increasingly leverage AI-driven insights for inventory optimization, personalized customer engagement, and predictive decision-making. Strategic partnerships, such as Axis Bank and Alliance Network India’s October 2024 POS aggregation platform, allow merchants to consolidate payment channels and access digital financial services.
Fixed POS terminals capture significant share of the market owing to reliability and integration
Fixed POS terminals remain the dominant choice for organized retail, hospitality, and BFSI sectors, providing high stability, robust security, and seamless backend integration. Commercial hubs like Mumbai, Delhi, and Bengaluru host a majority of these deployments. EMV-compliant and biometric-enabled devices meet evolving security and regulatory standards. High transaction volumes in hypermarkets and supermarkets necessitate such infrastructure, ensuring smooth, uninterrupted operations, thereby propelling the India POS device market opportunities.
Mobile POS (mPOS) terminals are emerging as the fastest-growing segment, catering to SMEs, service providers, and field-based businesses. Affordable devices, smartphone compatibility, and portable designs enable payments beyond fixed locations. BharatPe’s deployment of 125,000 BharatSwipe devices across 250 cities by March 2022 and PhonePe’s Android-based mPOS rollout exemplify the adoption momentum. Mobile connectivity, NFC, and QR code integration facilitate seamless, on-the-go transactions, particularly in emerging urban and rural markets.
By industry vertical, the retail sector secures the leading position in the market with omnichannel demand and volume
Retail dominates India’s POS ecosystem, driven by organized retail expansion, e-commerce growth, and omnichannel integration. Hypermarkets, supermarkets, and convenience stores invest heavily in advanced POS systems for faster checkouts, inventory management, and loyalty program integration. Technology-driven platforms, such as Worldline’s One Commerce, allow unified management of offline and online payments. Retailers leverage POS data analytics for personalized engagement, operational efficiency, and repeat business.
As per the India POS device market report, the hospitality sector emerges to be the fastest-growing vertical, driven by rising travel, and dining demands. Hotels, cloud kitchens, and QSRs are adopting POS for seamless billing, contactless payments, and integrated guest management. Industry reports indicate that the majority of hoteliers actively utilize digital tools to optimize reservations, payments, and engagement. International collaborations, such as NPCI International Payments and Magnati enabling UPI payments in UAE POS terminals, expand the reach for Indian travelers abroad.
West and Central India account for the dominant market share due to increasing Commercial Adoption
The West and Central regions dominate POS device adoption in India, driven by economic hubs like Mumbai, Ahmedabad, and Pune. Aggressive retail expansion, urban consumer demand for secure contactless payments, and state-led initiatives contribute to high POS penetration. Businesses increasingly adopt fixed and mobile terminals to streamline operations, integrate loyalty programs, and offer frictionless payment experiences.
The North India POS device market is witnessing rapid growth in terms of adoption, driven by digitization of traditional businesses, SME expansion, and retail modernization. Tier-II and tier-III cities are seeing heightened adoption of mobile and fixed POS terminals to meet growing consumer expectations for secure, contactless payments. Initiatives like Digital Payments Awareness Week and MeitY incentives are catalyzing deployment, particularly among smaller merchants.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
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.
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.
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.
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.
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.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
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.
Explore the latest trends shaping the India POS device market 2026-2035 with our in-depth report. Gain strategic insights, future forecasts, and key market developments that can help you stay competitive. Download a free sample report or contact our team for customized consultation on India POS device market trends 2026.
Upto 15% Off
USD
$2499 $2249
$3999 $3599
$4999 $4249
$5999 $5099
*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.*
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
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.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Component |
|
| Breakup by Terminal Type |
|
| Breakup by Industry Vertical |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Datasheet
One User
USD 2,499
USD 2,249
tax inclusive*
Single User License
One User
USD 3,999
USD 3,599
tax inclusive*
Five User License
Five User
USD 4,999
USD 4,249
tax inclusive*
Corporate License
Unlimited Users
USD 5,999
USD 5,099
tax inclusive*
*Please note that the prices mentioned below are starting prices for each bundle type. Kindly contact our team for further details.*
Flash Bundle
Small Business Bundle
Growth Bundle
Enterprise Bundle
*Please note that the prices mentioned below are starting prices for each bundle type. Kindly contact our team for further details.*
Flash Bundle
Number of Reports: 3
20%
tax inclusive*
Small Business Bundle
Number of Reports: 5
25%
tax inclusive*
Growth Bundle
Number of Reports: 8
30%
tax inclusive*
Enterprise Bundle
Number of Reports: 10
35%
tax inclusive*
How To Order
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Share