The number of POS transactions at terminals in India has grown substantially from 1.08 billion units in 2013 to 4.52 billion units in 2023. The most significant increase occurred between 2015 and 2016, with a year-on-year growth of 78.24%. However, notable decreases were observed in 2017 and 2020, with -6.79% and -12.04% respectively. Despite these fluctuations, the long-term trend from 2013 to 2023 demonstrates a robust upward trajectory with a compound annual growth rate (CAGR) of 23.54% in the early years, eventually adjusting to 5.58% by 2023.
Looking forward, the projected data from 2024 to 2028 indicates a continued, though slightly slower, increase in POS transactions, with a forecasted CAGR of 3.34%. By 2028, the volume is expected to reach 5.61 billion units. The forecasted 5-year growth rate from 2023 to 2028 is anticipated to be 17.83%.
Future Trends to Watch For:
- Technological advancements in payment systems.
- Increased digitalization and financial inclusion in rural areas.
- Government policies promoting cashless transactions.
- Growing consumer preference for contactless and digital payments.
