Point-of-Sale or POS is a combination of hardware and software which enables merchants to process customer payments and log transactions. The purchases can be made online or in person and receipts are generated electronically or in printed form. POS technology not only takes payments but performs many other functions, such as tallying orders, monitoring inventory, tracking prices, creating invoices, collecting marketing data and so on. POS devices accept payments through swiping/tapping/inserting of credit or debit cards or cash payments by inserting notes or coins. E-commerce POS platforms require the customers to input payment details.
Increasing adoption of digital payment methods in India is resulting in high growth for the POS market. The growth is being driven by leading players in the POS industry. Let’s have a look at some of the top POS companies in the country.
1 Mswipe Technologies Private Limited
Mswipe Technologies Private Limited provides seamless POS solutions for multiple types of digital payments, including QR payments, mobile payment apps, bank apps, wallets and cards. The company provides multiple types of smart POS terminals to merchants, such as BoomBox, Wisepos Neo, Wisepos Plus, Wisepos 2.0, Wisepad Go and more. A dedicated merchant app which integrates with the POS terminals is replete with features, such as up-to-date transactions, in-app notifications, detailed account statements and SOAs and invoices.
The company has partnerships with multiple banks and financial institutions, including American Express, Canara Bank, ICICI Bank, IDBI Bank and Kotak Mahindra Bank.
2. Razorpay Software Private Limited
Razorpay specialises in multiple types of digital solutions for receiving payments, making payouts, payroll management and business banking. It offers POS devices for seamless in-store payments, payment gateways for receiving customer payments on websites and apps, and payment links for email, text and social media.
The company empowers E-commerce businesses by streamlining the payment process through a unified dashboard which enables both digital and physical payments. Some of the top businesses using Razorpay include Zomato, Flipkart and Nykaa.
3. Ingenico
Ingenico is a multinational POS company with presence in 37 countries, including India. In India, Ingenico operates through its subsidiary Ingenico India. It provides a number of POS solutions to businesses and individuals. They include portable POS devices, countertop pin pads, retail pin pads, retail mobility devices, card readers, self service devices and SoftPOS.
The company also offers estate management systems which combine devices, software systems and services into a single integrated unit to boost productivity and maximise business potential.
4. VeriFone
VeriFone provides payment and POS solutions in more than 165 countries, including India. It offers multiple types of smart POS devices, such as VeriFone Victa, VeriFone Tap, VeriFone Biometrics and more. Furthermore, the POS solutions also include online and in-app payment methods which provide seamless payment transaction experience to the customers. Full security is guaranteed to the transactions by the way of robust encryption, fraud management and tokenisation.
The company caters to businesses of all sizes, right from startups and SMEs to large enterprises across industries.
5. NGX Technologies Private Limited
NGX Technologies Private Limited is known for providing cloud-based POS systems to retailers and MSMEs. It manufactures and sells a wide range of POS devices, such as Android and Windows based touch POS machines, standalone and real-time cloud billing machines, POS printers, bluetooth thermal printers, android based mobile handheld terminals, desktop billing solutions and handheld billing solutions.
The company has a strong network of dealers in India and has also shipped more than 75k POS devices and products on a global scale.
6. PAX Global Technology Limited
PAX Global Technology Limited is present in more than 120 countries, including India, and has sold more than 68 million POS terminals worldwide. Its catalogue of POS hardware products include Android Smart POS devices, Android ECRs, Unattended Self Service POS terminals, PayPhones and PayTablets and Classic Terminals. The software platform offered by this company, named MAXSTORE, features hundreds of applications, modern administrative functionalities, real-time data and statistical reporting.
The company provides a standard warranty of 1 year on all its products. Maintenance services are also available in the form of repairs, refurbishment, reconditioning and software updating.
7. PayU Payments Private Limited
PayU Payments Private Limited provides payment and billing solutions to businesses across industries. It provides payment gateways with more than 150 payment methods, QR code payment solutions with more than 140 UPI apps and no code payment links which can be shared through email, WhatsApp and SMS. Furthermore, the company offers collaboration to businesses to provide a number of facilities to the customers, such as cardless EMIs, buy now pay later, reward points and more.
The company serves more than 4,50,000 merchants and processes about 10 million payments on a daily basis.
8. MobiSwipe Technologies Private Limited
MobiSwipe Technologies Private Limited, a unit of OMA Emirates Group, is specially focused on enabling merchants to accept debit and credit card payments anytime anywhere. The MPOS and Tablet POS devices provided by the company get connected to mobile phones via Bluetooth to accept card payments. Secure card readers are used to protect the card details of the customers.
The company is fully compliant with the latest RBI and PCI norms. It has a large distributor network to cater to the Indian market.
9. Payswiff Solutions Private Limited
Payswiff offers multiple types of merchant transaction solutions, such as omni-channel unified payment app for merchants, intuitive and powerful POS machines for brick and mortar stores and contactless mobile payment app. The company also offers turkney POS solutions for banks, such as automated onboarding, digital KYC, automated allotment of cheques, instant account activation and insightful report generation.
10. Evolute Group
Evolute Group offers a number of innovative FinTech solutions, including omni-channel payment solutions, Android based POS terminals, devices supporting Aadhar and National ID based payments, microATMs and biometric authentication devices. The devices support multiple kinds of software solutions for both payment and non-payment services.
Conclusion
Point-of-Sale terminal market in India is expected to growth at a CAGR of 9.1% in the 2025-2031 period. Push towards a digital economy and more cashless transactions will increase the demand for POS systems, thereby leading to more investments in this sector.
