The Business Standard reports that Visa International introduced the first indigenously developed low-cost point-of-sale (POS) terminal in India. The terminals has been developed by Hyderabad-based Linkwell Telesystems with technical support from Visa.
“This is an innovative product which can change the dynamics of the payment card industry. While the card numbers are growing there needs to be a place where the consumers can use it,” said Visa International’s country manager (South Asia) Santanu Mukherjee.
He added, “The cost of POS imported into India has been an entry barrier for small and medium sized merchants. The reduction of costs will also increase the penetration in Tier II towns where there is a large number of potential merchants with low threshold volumes.”