Archive · 25 Jun 2025
India Set to Lead SoftPOS Revolution in Contactless Payments
Imagine paying with your phone everywhere!
That's what SoftPOS is all about.
It lets businesses, especially small ones, accept payments using their smartphones instead of special machines.
India is becoming a leader in this, with many businesses expected to use it.
This change is happening because more people use smartphones and want to pay without touching anything.
This technology is useful for shops, restaurants, public transport, healthcare, and insurance.
It helps businesses be more efficient in a digital world.
India is projected to lead global SoftPOS adoption, with over 3.45 crore deployments by 2027.
MSMEs are expected to drive over 60% of SoftPOS deployments due to affordability and ease of use.
Mobile payment volumes in India are forecast to increase from ₹66.30 lakh crore in 2024 to ₹4,17.45 lakh crore by 2033.
SoftPOS is transforming contactless payments across industries like retail, F&B, transit, healthcare, and insurance.
The rise of smartphones and digital consumers is fueling SoftPOS adoption across various sectors.
- Who
- Businesses, especially MSMEs, and consumers in India.
- What
- India is leading the global adoption of SoftPOS (Software Point-of-Sale) solutions, which allow businesses to accept payments via smartphones.
- When
- Mobile payment volumes in India are expected to grow significantly from 2024 to 2033.
- Where
- India
- Why
- To cater to the increasing demand for contactless payments and adapt to a more digitally integrated economy.
- SoftPOS Deployments by 2027
- Over 3.45 crore globally
- MSME Deployment Share
- Over 60%
- 2024 Mobile Payment Volume (India)
- ₹66.30 lakh crore ($792.4 billion)
- 2033 Mobile Payment Volume (India)
- ₹4,17.45 lakh crore ($4.99 trillion)
- UPI Transactions (March 2025)
- ₹24.77 lakh crore