Hyderabad: Following the impact of demonetisation drive like lack of change and smaller denomination currency problems, traders are now focusing on adopting cashless transaction technology like Point-of-Sale (POS) machines.
As per the estimates with PoS machine suppliers, since November 8, sales had increased by 20 per cent compared to earlier monthly average. PoS machines are available in the market at Rs 7,000 to Rs 10,500 per unit based on features, connectivity and battery capacity.
PoS sales agent from PayU.in Annam Jagdish said about 100 agents were working on the sales teams of five companies. “Besides, about 50 mechanics are available in the city. All the agents used to sell 800 to 1,000 units per month in GHMC limits and due to the rise in demand, this month so far about 1,200 machines have been sold,” he said.
Mr Ashutosh Kumar, another agent from Dilsukhnagar, said that the price of POS had risen in the last week due to the rise in demand and fall in production by the manufacturers.
“The demand rose across the country and the manufacturers should supply as per requirement. The price rose from Delhi traders, not from the agents. The demand has been rising day-by-day after demonetisation,” he said.
Mr Jagdish said that with bankers busy after demonetisation, the process of configuring PoS machine with the bank account of the trader was also being delayed. “Earlier, it used to take almost 48 hours for banks to activate the PoS machines. Now, it is taking four days to one week to complete the configuration process,” he said.
