The total number of POS machines at the end of December 2014 was 1,058,294. Separately, SBI officials mentioned that the cost of converting a POS machine to an NFC-capable one is about Rs 2,000-2,500.

Infibeam’s CCAvenue mobile app to convert Android phones into smart PoS terminals The app offers pin-on-glass feature too and through the tap pay feature users can make payments of beyond Rs 5,000 ...