Swipe Machines in High Demand Post Notes Ban

There is an acute cash shortage post the Demonetization like lack of change and smaller denomination currency problems. Even as there are curbs on cash withdrawls, people are being forced to go for cashless transactions. And then there is a huge demand for Point of Sale (POS) machines or Swipe Machines.

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Since November 9th, the Sale of these machines were increased by 20 per cent compared to earlier monthly average. But then the companies could not supply the required machines due to unexpected surge in the demand. With bankers busy after demonetisation, the process of configuring PoS machine with the bank account of the trader is also being delayed.

The companies are also cashing in the demand by increasing the prices. On the other side, both the governments in AP and Telangana are planning to supply them at subsidized costs to small traders to overcome the crisis and promote cashless transfers.