This website requires JavaScript.
Daily Briefing

Covid-19 to hit imports of card swipe machines

Mar 6, 2020 by The Passage Team
Covid-19 to hit imports of card swipe machines

The novel coronavirus outbreak that has adversely impacted global manufacturing activities and financial markets may also hinder India's journey towards becoming a less-cash economy due to a likely shortage of swipe machines to process digital payments at retail outlets.

Indian payment companies get 90% of their point-of-sale terminals from China and their imports are now on the verge of getting disrupted as Chinese manufacturing activity is still reeling from the Covid-19 outbreak. Industry players, speaking with ET on conditions of anonymity, said they may face supply side issues and even pressures on pricing of these terminals.

Source: Economic Times

The Passage Team

The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.

Follow The Passage Team