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
:quality(90)/public/image/2018/8/26/profile_thepassage.jpg)
