The above graph represents the total number of ATMs and POS in India by month, starting from April 2011 to October 2019. As the graph shows, the number of Automated Teller Machines (ATMs) in the country hit a record high in the month of October 2019. The number of ATM machines in India increased to 2,29,374 in October 2019, from 2,27,886 in September 2019. On the other hand, the country added 2,35,347 new POS terminals in October month, totalling to 48,25,074 – the highest-ever till date.
|Source||Reserve Bank of India (RBI)|
|Note||India fiscal year starts from April 01|
In July 2012, the number of ATMs surpassed 100,047 in the country. While the number of POS machines in India surpassed 102,5733 in the month of December 2013.
In a little over 3 years, exactly in October 2015, the total number of ATM machines in India crossed the 200,000 mark for the first time. Over 2,000 new ATMs were opened in a single month.
Similarly, nearly 248,114 new POS terminals were opened in the country, totaling to 201,5847 by the end of January 2017.
Digital Transactions In India: Additional Information
The internet revolution has resulted in exploded adoption of digital methods of transactions worldwide. The users of Credit & Debit cards, mobile and internet nowadays are far more aware and digitally empowered with making financial transactions. In the last few years, however, digital transactions have branched out into multiple types of financial transactions.
Started with the use of Credit and Debit cards at POS in large retail stores, digital transactions industry has come a long way. The introduction of mobile wallets and UPI have transformed the whole digital transaction industry in India. RTGS (Real Time Gross Settlement), NEFT (National Electronic Fund Transfer), CTS (Cheque Truncation System), IMPS (Immediate Payment Service), NACH (National Automated Clearing House), UPI (Unified Payments Interface) and PPI (Prepaid Payment Instruments) are the main type of financial transactions that fall under the Digital transaction category.
Digital transactions save time and money, resulting in a better bottom line. Customer experiences are also enhanced (think of the convenience of eSigning versus having to print a contract, sign it, and then return it by mail or fax). And digital transactions improve tracking capabilities, which helps reduce errors.
The exploded adoption of smartphones, mobile apps and mobile internet has helped Digital transaction industry to grow at an unprecedented rate. With more than 500 million smartphone users, India is one of the largest countries by the number of digital transactions that are recorded every month.
The above graph is a part of Dazeinfo GraphFarm – the most trusted source of hundreds of thousands of market graphs. Our team of researchers mines millions of data points every month to bring the most updated and validated set of data points representing the comprehensive view in a graphical format. From mobile to e-commerce, from Retail to healthcare, from startups to SMEs we have carefully designed thousands of graphs for those who value and understand the importance of data visualisation.