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Number of swipe machines up 10 lakh since November 8

Number of swipe machines up 10 lakh since November 8

Tuesday, April 11, 2017, 9:55 AM

The number of shops accepting card payments has jumped from 15 lakh to 25 lakh with banks adding over 10 lakh point of sale (PoS) terminals since demonetisation on November 8, 2016. According to SBI, given the level of digitization, the requirement of currency notes in the economy will come down by over Rs 1 lakh crore.
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