According to Sumit Bedi, Vice President, Marketing, IndiaMART, “Following demonetisation and resultant cash shortage in the market, the surge in the enquiries for point-of-sale and card-swipe machines on IndiaMART indicate that more organisations – especially SMEs, entrepreneurs and emerging businesses -- are looking for alternative payment solutions to avoid hindrances in business. In fact, the upswing for the demand of such machines has gone up to as much as 9000% from the day the 500 and 1000-rupee note recall was announced.”
|ENQUIRIES (Per Day) ON INDIAMART|
|Timeline||Before Nov 8th||Nov 9th-Nov 15th||Nov 15th-Nov 30th|
|Card Swipe Machines||100||2000||9000|
The platform has witnessed major growth in enquiries from cities like Ahmedabad, Jaipur, New Delhi, Pune, Bengaluru, Hyderabad and Chennai. Post demonetization, there has been a whopping 10,000% rise in the demand for card swipe machines in Ahmedabad, 7800% in Jaipur, 6800% in New Delhi, 4200% in Pune, 4000% in Bengaluru and around 3500% in Hyderabad and Chennai. SMEs from cities like Lucknow, Surat, Patna and Indore have also shown huge interest in card-swipe machines.
After demonetization, the platform has seen more than 11,000% growth in the demand for POS Systems in New Delhi, 9500% growth in Bengaluru, 7900% in Jaipur. There have been enquiries from other cities like Chandigarh, Mumbai, Hyderabad also.
Prime Minister Narendra Modi announced the government move to demonestise Rs 500 and 1000 notes late evening on November 8, 2016.