Author Archives: Justransact

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High-speed and Smart Billing Solution from Millennium India

MagicBox-Elite

Chennai, India, 2018-Oct-09 — /EPR Retail News/ —  Keeping its endeavor to empower retailers with latest technology to enhance their business, Millennium Soft-tech India today introduced yet another advanced and multi-functional, yet affordable Android Desktop POS solution for Indian businesses who hitherto are striving for futuristic and high-speed POS devices to extend customers with best-in-class in-store experience.

 

MagicBox ELITE Android desktop POS terminal is strikingly similar to MagicBox Plus, which the company has unveiled to small and medium retailers last month, but with a few add-ons. One of the striking features Elite offers is an in-built 3-inch thermal receipt printer (160 mm per sec with auto-cutter) which intends to benefit wholesale and larger business enterprises to speed-up their checkouts and provide customers with more detailed purchase orders, bills and receipts.

 

MagicBox Elite has 11.6-inch screen touch display with HD resolution and IPS technology provides good readability even under bright sun. Bluetooth (4.0), NFC (optional) technology, 2- line LED customer display and Wi-Fi are the other highlights of this POS terminal. The compact, well designed and rugged desktop POS terminal also comes with plenty of USB connectors to connect hardware devices such as external printer and barcode scanner.

 

Commenting on the release of new desktop POS terminal Bhaskar Venkatraman, CEO and Director of Millennium Soft-tech India, said: “Indian retailers are hard-pressed to meet growing customer demand and challenges posed by large peer groups who are equipped with latest billing and store management solutions to offer the best shopping experience to customers.”

 

Bhaskar Venkatraman, Director, Millennium Soft-tech India Pvt Ltd.

“The advent of supermarkets and smart stores in the neighborhoods are compelling retailers to come out of traditional retailing practices and adopt modern technologies as customers, armed with mobile technology, want to connect with retailers through multiple touch-points. So, whoever offers flexible transaction windows, get more customers and business. MagicBox Elite intends to help retailers of any size provide fast and advanced billing solution to customers while automating several in-store activities such as inventory, sales, payments, purchases and CRM,” Bhaskar further stated.

 

The new MagicBox Elite comes with user-friendly retail software application, and shop owners can easily perform GST billing, accept multiple payments, manage inventory in real time, send offers and discounts to valued customers, manage CRM and loyalty programs and generate sales reports for better business forecast and management. Accessible on Cloud, retailers can get store information in real time anywhere and can take crucial business decision on the go.

 

“MagicBox Elite offers versatile POS solutions for retailers belong to myriad business verticals. From small, medium to large grocery stores, departmental stores, food stalls, bakery shops, diagnostic and testing labs to medical stores, dairy business, electrical and home appliance showrooms, footwear shops and hospitality industry can use Elite to provide the best-in-class customer experience,” concluded Bhaskar.

About Millennium India

 

Established in 2002, Millennium Soft-Tech (India) Pvt Ltd has been in the forefront of providing Point of Sale (POS) technology products and solutions to Indian businesses through astute marketing strategy supported by huge partners’ network across India.

 

Having associated with world’s leading POS brands, Millennium understands the growing demands of retailers better than anyone else irrespective of their size, stature and nature of business, and offers comprehensive, advanced and sustainable solutions to enhance their businesses.

 

Headquartered in Chennai and having branches all major cities in India, Millennium has a clear vision of empowering millions of unorganized small and medium enterprises spread across the country by automating their transaction activities and make them competitive with established market peers.

 

As the national distributor of leading multinational POS brands including Epson, Posiflex, Casio, Toshiba, Honeywell, Godex, and Opticon, Millennium offers POS solutions to corporate brands, retail giants and SMEs across India.

For further information, contact:

 K Ramanathan

Content Head & Media Coordinator,

Millennium Soft-Tech (India) Pvt Ltd, G-19,2nd Floor,

Block-16, 2nd Main Road

Ambattur Industrial Estate, Chennai -600 058

Phone: +91-9384612789/ +91-917 666 2020

Email: ram(at)Justransact(dot)com

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Millennium India Releases Smart and Cost-effective POS Solution for Retailers

NEW DELHI, India, 2018-Oct-9 — /EPR Retail News/ — Millennium Soft-tech India today unveiled yet another powerful android smart POS – MagicBox Plus – device with advanced features suitable for small and medium retail businesses who hitherto have been struggling to match with big businesses in providing best-in-class customer experience and enhanced store operations.

Millennium, which pioneered in providing integrated POS technology for Indian retailers, earlier in July has introduced hand-held Smart Mobile POS device for small shop owners to help them transact both indoor and outdoor seamlessly while managing inventory, payment, reports and analysis and customer engagement activities.

“Our new offering, MagicBox Plus android desktop POS is ideal for retailers who prefer smaller, sleeker, cheaper and yet powerful POS solution to drive business operations seamlessly,” says Bhaskar Venkatraman, CEO and Director of Millennium Soft-tech India.

The compact desktop POS device comes with industry-best retail software ideal for general and food and beverage retail applications which include grocery shops, stationery sellers, departmental stores, ice-cream bars, bakery and sweet shops,  food courts, fine dining, takeaway, bar, to name a few.

“MagicBox Plus, while automating several manual functions such as inventory, sales, credits and billing, helps store owners generate valuable reports and analysis for better planning, CRM and loyalty program, GST billing, order taking, mobile banking and staff management,” says Bhaskar, who also heads India’s premier e-commerce portal Justransact.com exclusively for POS products and technology.

MagicBox Plus Android (6.0) device comes with Qualcomm Snapdragon615, octa-core processor, 8GB memory and 1 GB RAM, which can host powerful retail POS software. Despite small in size, MagicBox Plus offers integrated 2-inch (58mm) printe and NFC (optional) technology along with 11.6-inch HD adjustable touch display and elegant but rugged design to customers. Bluetooth (4.0) and Wi-Fi are the other highlights of this POS device.

The pre-loaded software supports critical features such as anytime-anywhere billing, inventory management, spot offers/discounts, loyalty program, and many more. Through this device, retailers can access their store remotely in real time using cloud technology which saves critical data and keeps it secured from potential loss, pilferage or malware intrusion.

“Retailers get cost-effective, integrated, compact and a complete POS solution with cloud application facility.  With this (device), retailers can save a huge overhead cost and considerable retail space while offering customers sophisticated business environment,” concludes Bhaskar.

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Millennium Soft-Tech Launches All-in-one Android POS for Retailers

New Delhi, India, 2018-Jul-23 — /EPR Retail News/ —  Millennium Soft-Tech India, a pioneer in delivering innovative Point of Sale (POS) technology products and solutions to the fast-growing retail Industry in India, today launched an array of powerful Android billing solutions under MAGICBOX brand series for retail establishments who can now experience ease of doing business while achieving supreme customer engagement.

Millennium offers four variants of MagicBox to retail businesses – MagicBox Mobile POS and desk top series MagicBox-Plus; MagicBox-Elite and MagicBox-Pro which are suitable for small, medium and large retail businesses.

 

 

 

 

 

 

 

 

As a breakthrough POS technology, MagicBox Plus, Elite and Pro can make stores generate unique shop code in the form of 2D barcodes to enable customers pay through their smart phones.

Speaking on the release of MagicBox POS series, Mr Bhaskar Venkatraman, CEO and director of Millennium Soft-Tech India said: “MagicBox devices are an attempt to automate Indian retail industry where almost 90 per cent of our retailers are still using traditional means to transact and manually operate critical functions like stock management, sales records, purchase data, CRM and employees’ performance. Through MagicBox we are offering them unmatched technology to automate their operations in affordable cost. Also, retailers can utilize Cloud to back-up their critical sales and other data thereby saving huge overhead cost. MagicBox variants are made as plug-in-and-transact types which intend to help retailers improve sales and better shopping experience for customers.”

MagicBox M-POS

Targeting micro level unorganized retail businesses such as petty shops, tea shops and other small and medium businesses such as kirana /grocery or convenio stores, who are finding hard to match up to their technologically advanced peers, MagicBox – Mobile POS terminals are hand held mobile POS devices with 2” receipt printer, 2D barcode scanner and powerful billing software which can do anytime-anywhere billing, customer relation management, inventory tracking and accept myriad of payments – cash, card, cheques, e-wallets or e-coupons.

The other highlights of this M-POS device include – 5.5” touch screen, Wi-fi / GSM and Bluetooth compatibility, Powerful Quadcore Processor and long battery life. This device is being packaged with a pocket-sized payment terminal for transaction through credit/debit cards.

MagicBox Plus

MagicBox-Plus Android desktop POS has been made for retailers who are looking for smaller, smarter, yet powerful mobile POS solutions. The Android (6.0) device has Qualcomm Snapdragon615 octa-core processor, 8GB internal memory, ideal to host POS software and Bluetooth and Wi-Fi compatibility. Despite smaller in size, MagicBox Plus offers integrated 2-inch (58mm) printer and NFC (optional) technology along with 11.6 HD adjustable touch display and elegant but rugged design to the customers.

The pre-loaded software application supports critical features such as anytime-anywhere billing, Inventory management, Spot offers/discounts, CRM, loyalty program, to name a few.

MagicBox Elite

MagicBox Elite Android desktop POS terminal is almost similar to MagicBox Plus but with a few added features. One of the striking features Elite offers is a 3” receipt printer which will be useful for traders who want to make invoices and larger billing functions.

MagicBox Elite has 11.6″ screen touch display with HD resolution and IPS technology provides good readability even under bright sun. Bluetooth (4.0) and Wi-Fi are the other highlights of this POS device. The compact desktop POS terminal also has plenty of connectors (4 × USB, 1 × microUSB and a card slot).

MagicBox Pro

MagicBox Pro is the large desktop POS terminal having 14-inch full HD resolution adjustable touch display and can be used for multiple functions in any size of retail environment. MagicBox Pro offers two options – 0ne with a single front-end display and the other has extra customer display fitted on the back side. Customer display screen has two sizes : 7-inch and 14-inch.

 

Business owners can choose the size according to their requirement. The second display screen makes customers see the billed items. MagicBox Pro has eight-core processor which gives plenty of power. The whole system is running on Android 6.0 Operating System. The other highlights of this POS terminal are an integrated 3-inch (80mm) high-speed thermo-sensitive printer (200 mm/s) with a cutter and Wi-Fi and Bluetooth compatibility.

Bhaskar Venkatraman, Director and CEO, Millennium India

About Millennium India

 Established in 2002, Millennium Soft-Tech (India) Pvt Ltd has been in the forefront of providing Point of Sale (POS) technology products and solutions to Indian businesses through astute marketing strategy supported by huge partners’ network across India.

Having associated with world’s leading POS brands, Millennium understands the growing demands of retailers better than anyone else irrespective of their size, stature and nature of business, and offers comprehensive, advanced and sustainable solutions to enhance their businesses.

Headquartered in Chennai and having branches all major cities in India, Millennium has a clear vision of empowering millions of unorganized small and medium enterprises spread across the country by automating their transaction activities and make them competitive with established market peers.

As the national distributor of leading multinational POS brands including Epson, Posiflex, Casio, Toshiba, Honeywell, Godex, and Opticon, Millennium offers POS solutions to corporate brands, retail giants and SMEs across India.

For the latest news and informative blogs on Point of Sale technology, visit us @ https://www.justransact.com/knowledgebase/pos-technology-blog

 

For Media Contact

K Ramanathan

Content Head & Media Coordinator,

Millennium Soft-Tech (India) Pvt Ltd, G-19,2nd Floor,

Block-16, 2nd Main Road

Ambattur Industrial Estate, Chennai -600 058

Phone: +91-9384612789/ +91-917 666 2020

Email: ram (AT)justransact (DOT)com

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Cash or card! Global Retailers Linger on Paper Over Plastic!

Chennai, India, 2018-Jul-23 — /EPR Retail News/ — Retail businesses, irrespective of size, accept payments through multiple modes (cash, card, mobile, internet banking, wallet, etc) but still many of them prefer cash over card to avoid regulatory complexities and hence devoid customers of their shopping rights and experience.

man in suit giving 1000 dollars another man

According to a survey by TD Bank recently, globally 70 per cent of SMEs prefer cash and cheques over card or online transactions. Though handling physical cash or cheques may be difficult, still cash rules in most of the Point of sale (POS) counters across several advanced countries in US and UK and developing countries like India and Brazil.

Retail experts agree that global POS market is still remain scattered and needs to be organized with the help of advanced technology. While the data has revealed that about 20% merchants use traditional POS systems, cloud-based POS systems by 17% while 24% retailers accept online payments.

Earlier, researches on global retail industry had indicated that though merchants and consumers were inclined to use new retail (POS) technology, they preferred cash to other mode of payments.

Consumer preferences and governments’ initiative to support cash-less payment have compelled retailers to accept all forms of payments, says Doug Mearkle, a senior official from TD Bank, which surveyed over 600 small retailers to understand how they are responding to modern transaction systems, cloud-based POS technology, cashless payment options and receptive to innovative ideas. The business owners surveyed were chosen from across fast growing economies and belonged to industries such as health care, retail, construction and entertainment.

TD Bank has indeed used the survey to create awareness among the merchants as to how various payment options and POS applications can be integrated in a single POS system to enhance business growth and effect customer experience.

Bhaskar Venkatraman, CEO and Director of Millennium India

As far as India, the digital payment system is fast catching up though there are still some teething problems such as inhibition to shift from conventional to modern business system, acceptance of card payments due to high transaction charges and low penetration of debit/credit cards and online payment options among rural folks.

“POS applications can be integrated into a single system to provide small business owners a potent tool which can perform multiple functions and offer several researched data which they can use for business betterment. Modern POS systems can provide some crucial business data which retailers can’t get following traditional methods,” says Bhaskar Venkatraman, CEO and Director of Millennium India, a pioneer in introducing POS technology to Indian retail merchants.

For example, a small retailer who sells grocery or ready-made clothing can forecast daily sales and plan to improve sales and profitability. An integrated POS can help him to decide on staff strength on particular day or occasion, understand the inventory position or requirement, number of customers visiting the shop on daily, weekly, monthly or yearly basis and individual customer’s buying pattern.

Though small-business owners are aware of the new features and advantages, but still there are some misconceptions and inhibitions which stop the majority of them from adopting the POS innovation, Mearkle concludes.

So to say, it is difficult to “cash” on the modern POS technology to improve business by some retailers!

 

For Media Contact

K Ramanathan

Editor-Media coordinator,

Justransact.com & Millennium India,

Millennium Re-tech Ventures India Private Limited,

G-19,2nd Floor, Block-16, 2nd Main Road,
Ambattur Industrial Estate,Chennai-600 058.

Website: https://www.justransact.com/

E-mail: ram@justransact.com

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JusTransact Sees E-commerce Retail Explosion in India

New Delhi, India, 2018-Jul-23 — /EPR Retail News/ — E-commerce retail operations in India supported by unprecedented growth of smart phone and internet penetration has made Indian retail industry the most potent, sustainable and fastest growing industry  in 2018 compared to many of the world’s leading economies.

Even in rural regions, where people used to make retail purchases from the nearby mom-and-pop or physical stores for their grocery, electronic, or any other domestic goods, are now flaunting with tablets or smart phones with dependable internet connectivity and make purchases from online stores using debit or credit cards or internet banking or through digital wallets offered by payment companies such as Paytm, Rupay, Freecharge, MobiKwik, Jiomoney, to name a few.

According to market research firm eMarketer, Indian e-commerce sector will show rapid growth of 31 per cent this year to reach $32.7 billion. With the growing internet penetration and rapid usage of smart phones, the report predicted that by 2022, Indian e-commerce businesses will worth a whopping $71.94 billion surpassing the growth of China and other leading economies in the world.

As per the 2017 Goldman Sachs report, the online retailing sector in China will grow from the current 17 per cent to 25 per cent by 2020.

Factors contributing growth

Industry analysts from Millennium India, a leading e-commerce advisory and supplier of advanced POS technology to Indian retailers, say that the E-commerce growth in India has been contributed by the arrival of leading names – Flipkart, Amazon, Paytm Mall, Zomato, Bigbasket, Naaptol, Urban Ladder, etc, which have forayed into newer fields to address the daily needs of customers.

For example, Flipkart, Amazon and Jio are in the process of integrating nearby grocery shops to provide customers the pleasure of shopping daily need items, fruits and veggie from home, says Kiran Bhargava, an industry analyst based in Mumbai.

According to Bhaskar Venkatraman, CEO and Director of JusTransact.com, which is India’s only e-commerce portal for Point of Sale (POS) electronic products, says: “E-commerce in India has seen vertical growth over a decade and is now in the consolidating mode spreading its base to several other fields to satisfy growing customer demands. Customers, who are empowered by mobile technology, want everything online.  Today’s shoppers are highly demanding and tech-savvy which forces retailers to  open all doors – physical, internet, mobile, land-line, desktop/smart mobile/tablets, O2O, cloud- to reach them and vice-versa. No one wants to lose-out customers because of lack of technology.”

“E-commerce is getting further boost due to cheaper smartphones and increased internet users, and this trend is catching up fast in tier II and III cities as well,” adds Bhaskar, who also heads Millennium India.

Not only, groceries, customers can now order their daily needs and essential items such as furniture, electrical and electronic items, hardware, home utility items, laundry services, food from their smart phones, whose penetration and internet connectivity and also overwhelming online presence by young population and expanding middle class are catapulting the number of digital buyers in India.

The online retail space has been witnessing fierce competition in the recent times for the larger pie with market leader Flipkart (which has been taken over by Walmart recently), Amazon and Paytm Mall (backed by Softbank and Alibaba) infusing huge capital for improved logistic and payment system and also planning to woo customers with attractive discounts on competitive products.

Though as of now, no one has emerged clear winner of the e-commerce space in India, one can surely say that coming months will be more crucial for these entities and customers are in for delightful surprises with deep discount offers, concludes Bhaskar.

 

For Media Contact

K Ramanathan

Editor-Media coordinator,

Justransact.com,

Millennium Re-tech Ventures India Private Limited,

G-19,2nd Floor, Block-16, 2nd Main Road,
Ambattur Industrial Estate,Chennai-600 058.

Website: https://www.justransact.com/

E-mail: ram@justransact.com

Ph: +91 9384612789

 

 

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India Should Reduce GST on Point Of Sale Devices to Encourage Digitalization: Millennium

Bhaskar Venkatraman

Chennai, India, 2017-Nov-16 — /EPR Retail News/ —  Ever since the Indian government introduced the ‘historic’ Goods and Services Tax regime from July 2017, there have been frequent announcements for revision of rates for several items by the GST council owing to pressure from public, traders and political spectrum.

However, there are certain items which are still in the bracket of 18 per cent and 28 per cent, which, according to experts, will do no good for the government’s grand initiatives towards cashless economy and digitalization of all transaction activities.

For example, most of the Point of Sale (POS) devices are still in the higher rate of GST. While POS devices such as POS terminals, barcode scanners, barcode printers, mobile printers, receipt printers, etc are placed at 18 % slab, POS consumables such as paper rolls, ribbons and inks and also POS accessories such as pole display, cash drawers and magnetic stripe readers are still in the highest slab of 28%.

Bhaskar Venkatraman

Bhaskar Venkatraman

The higher GST slab for POS products and accessories will discourage retail vendors to go for digital transformation, feels Bhaskar Venkatraman, the CEO and Managing Director of Millennium India, a pioneer in introducing POS machines to retail businesses in India.

“The government’s digitalization move can bear the fruit only when all retail businesses, even in the remotest corner of India, automate their store by digitalizing their business operations moving out from the traditional and obsolete transaction methods. But the high GST slabs on various POS devices is a big discouragement for it. Hence, the GST Council should reduce the GST for all the POS items and accessories and also reduce the burden on importers by slashing the import duties, as majority of POS payment terminals, barcode printers, scanners and other supportive devices are being imported to India,” feels Bhaskar, who launched India’s first ecommerce portal ‘Justransact’ in 2014 exclusively for point of sale electronic items.

Even the nominal bank transaction charges for card payment at Point of Sale are scaring away retail vendors to adopt card payment option. Some of them, who have installed POS payment devices at their shops, are simply passing this burden to customers.

Post demonetization, cash still remains the major source of transaction even after one year of its implementation, though there has been phenomenal increase in card transactions. GST, which was intended to bring uniform tax regime, has so far not created the required impact among trading community as almost every week there have been some changes in its implementation or the rates.

“It is too early to suggest the impact of GST on the businesses or the economy. For any major reforms,  there will be issues which need to be addressed, and I think, the government is doing the right thing by revising the GST rates after getting feedbacks from various quarters. In the same line, 18 and 28 per cent GST for POS machines are too high to be absorbed by retail vendors. On the other hand, lower GST for POS devices will further trigger the growth of the Indian retail industry, which is currently the fastest among the Asian peers,” concludes Bhaskar.

For media contact:

K Ramanathan

Editor and Media Coordinator,
Millennium Soft-Tech (India) Pvt Ltd
ram(at)justransact(dot)com,
G-19,2nd  Floor,Block-16, 2nd Main Road,
Ambattur Industrial Estate, Chennai-600 058.

 

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Millennium India All Set to Regale FoodPro 2017 with Innovative POS Technology

CHENNAI, India, 2017-Sep-11 — /EPR Retail News/ —   Millennium India, the pioneer in Point of Sale (POS) technology in India, will be part of over 300 strong contingent of business verticals who will be showcasing their products, services and technology associated with food and beverage industry at the three-day Foodpro 2017 exhibition which will be held from September 7 at Chennai Trade Centre, Chennai.

Millennium has been partnered with Allmark Solutions, a leading weighing scale and other store infrastructure products supplier, along with well-known POS brands POSIFLEX, HONEYWELL and GoDEX to showcase their technology prowess on Point of Sale and other supportive products to business visitors, vendors and prospective entrepreneurs at the event.

The 12th edition of Foodpro 2017 is India’s biennial event on Food Processing, Packaging & Food Technology, organized by the Confederation of Indian Industries (CII).

The food expo will witness exhibitors dealing with food processing technology and machinery, refrigeration and cold chain system, process and packaged food, bakery equipment, kitchen equipment, hospitality products, barcoding and Point of sale technology will look forward for new business opportunities, collaborations, networking and brand promotion and will get updates on innovations and technology.

Bhaskar Venkatraman

On being part of the mega food expo, Bhaskar Venkatraman, CEO and Director of Millennium India said: Foodpro gives an opportunity to showcase our entire range of products to retail businesses which include, manufacturers, re-sellers, hospitality owners, packaging, food processing, cold storage and other logistics service providers. We have world-class technology products of Point of Sale and other store supportive products, and we are here to enhance the awareness of retail business owners on the advantages of using top-notch POS products for their business growth.”

Commenting on the importance of conducting such an event, a CII official said: “India continued to be one of the top producers in number of food grains, fruits, dairy products and poultry & meat products. At the same time, we lag behind most of the developed countries and also some of the developing Southeast Asian countries in terms of processing and value addition. This is resulting in lower returns on investments, very high wastage (up to 28% in some cases) and lower shelf life. Hence it is essential to increase the awareness on the importance of food processing and packaging. FOODPRO exhibition will help businesses to work towards adding value to processed foods and increase shelf life.”

To add value to the show and focus of the growing food sector, CII has added two more verticals – ColdStoRe and T-Food – as concurrent shows to Foodpro2017.

ColdStoRe will focus on the complete cold chain right from primary cold storage facility for food grains and fruits at Farm Level to high end cold storage for meat and food products including the important sector of Cold / Refrigerated Transportation.

Exhibitors profile will include companies that provide equipment, tools, and technologies that support the infrastructure and operations of the cold chain from design to build & operate. The focus will also be on third-party cold storage and refrigeration logistics and all forms of refrigerated transportation, Import/export facilities and services.

T-Food, a traditional food festival will try to bring the awareness about the traditional and local foods. This show will showcase the processed traditional food in healthy way, newer recipes of cooking traditional foods and will provide an opportunity to entrepreneurs to show case the developments in processing of traditional food.

CII will be organizing conferences on food processing technology, cold chain technology and workshop on traditional food with demonstration which will be addressed and conducted by experts in respective fields.

The event will be an ideal platform for the above profile companies to further strengthen their business and brand awareness and also to showcase their latest solutions to the user industry across sector.

About Millennium India

Established in 2002, Millennium Soft-Tech (India) Pvt Ltd has been in the forefront of providing Point of Sale (POS) technology products and solutions to Indian businesses through astute marketing strategy supported by huge partners’ network across India.

Having associated with world’s leading POS brands, Millennium understands the growing demands of retailers better than anyone else irrespective of their size, stature and nature of business, and offers comprehensive, advanced and sustainable solutions to enhance their business.

Headquartered in Chennai and having branches all major cities in India, Millennium has a clear vision of empowering millions of unorganized small and medium enterprises spread across the country by automating their transaction activities and make them competitive with established market peers.

As the national distributor of leading multinational POS brands including Epson, Posiflex, Casio, Toshiba, Honeywell, Godex, and Opticon, Millennium offers POS solutions to corporate brands, retail giants and SMEs across India.

For Media Contact:

K Ramanathan

Content Head and Media Coordinator,

Millennium India, India.

hand phone: +91 9384612789

email: ram (at) justransact (dot) com

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Millennium Soft-Tech Creates Impressive Impact at IWS 2017

New Delhi, India, 2017-Aug-03 — /EPR Retail News/ —  Millennium Soft-Tech has made an impressive impact on the visitors in the recently concluded India Warehousing Show (IWS) 2017, which was held at Pragati Maidan in New Delhi, India, between July 27-29.

As most of the visitors to the annual show represented logistics and allied sectors, Millennium’s showcasing of advanced POS technology to support warehousing, logistics and supply chain management has evoked a good response among the visitors with some of them even placing spot orders for barcode scanners, barcode printers and data collectors of leading international brands.

To make the most of it, Millennium introduced spot discount offers for various POS products for visitors booking at the stall.

Bhaskar Venkatraman

Bhaskar Venkatraman, CEO and Director of Millennium Soft-Tech India, who attended the opening day of the event said: “India’s warehousing and logistics industry has seen considerable boom due to high growth in retail, e-commerce and manufacturing sectors. Also, the introduction of GST can be the game changer which will add up the growth momentum. As POS industry supplements the growth of logistics and warehousing businesses, we received excellent response from visitors in IWS 2017 who predominantly belonged to warehousing and logistics sectors and wanted to automate several of their mundane operations for their business growth.”

Millennium’s stall was marked by the display of advanced POS technology products such as table-top and industrial barcode scanners, industrial and desk-top barcode printers, colour label printers, hand-held data collectors, and other advanced devices from world’s leading brands such as EPSON, GODEX, HONEYWELL, OPTICON, POSIFLEX and TOSHIBA.

Strategically located, Millennium Stall has attracted people from various industries also as the display of products was catering to the needs of business applications of supermarkets, textile showrooms, electronic and electrical retail shops, entertainment, hospitality, to name a few.

To attend the customers visiting the stall, execute demos for them and answer their technical and business queries, staff from Millennium were stationed along with technology experts from brand partners.

Organized by Reed Manch Exhibitions, India, which is a joint venture between Manch Communications (India) and Reed Exhibitions (UK), IWS 2017 was a rendezvous point for major suppliers, manufacturers, buyers, decision-makers and professionals.

About Millennium India

Established in 2002, Millennium Soft-Tech (India) Pvt Ltd has been in the forefront of providing Point of Sale technology products and solutions to Indian businesses through astute marketing strategy supported by huge partners’ network across India.

Having associated with world’s leading POS brands, Millennium understands the growing demands of retailers better than anyone else irrespective of their size, stature and nature of business, and offers comprehensive, advanced and sustainable solutions to enhance their business.

Headquartered in Chennai and having branches all major cities in India, Millennium is credited with excellent logistics supports and capable of reaching products to the doorsteps of customers located in even remote areas.

As a leading nation-wide distribution company for multinational POS brands such as Epson, Posiflex, Casio, Toshiba and Honeywell, Millennium caters to some of the big super and hypermarket chains, kirana stores, textile showrooms, multiplexes, kiosks, restaurants, hospitals, and SMEs.

For media contact:

K Ramanathan, Content Head and Media Coordinator,

Millennium Soft-Tech India Pvt Ltd, India.

email: ram (at) justransact (dot) com

91+9384612789

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GST can be a Game Changer for Indian Economy

Chennai, India, 2017-Jun-29 — /EPR Retail News/ —  When the clock strikes midnight on June 30th, it not only will herald the customary arrival of a new month, but also a historic moment in the post-Independence era as the country will be joining other major powers in the World in adopting Goods and Service Tax (GST), which aims to bring in a uniform tax regime for various Goods and Services traded across the vast nation.

Bhaskar Venkatraman, CEO and Director of Millennium India

The government headed by Prime Minister Narendra Modi has made elaborate arrangements to take the nation to the new tax reform at the Central Hall of the Parliament, and prominent leaders and personalities are going to witness the midnight gala.

But what is GST for the vast and fast-growing retail sector in India? How the Manufacturers, Distributors, Dealers and Retailers are going to be involved in the uniform tax system? Whether the end customers will bear the brunt or going to enjoy the fruits of the single tax system?

GST stands for Goods and Services Tax. This single tax system will supersede all state and central taxes including Value Added Tax, entry tax, octroi and other mundane taxes, and introduce one single tax right from manufacturers, distributors, dealers to local vendors. GST also avoids cascading taxes which ultimately reflects on the prices of the commodities.

How GST will impact the Point of Sale (POS) sector, which has been the bellwether of the BJP government to make the country a cashless economy?

POS is one of the major pillars of the retail sector which supplies hardware components like credit/debit card swiping machines, inventory management tools and POS terminals such as cash registers, barcode scanners, barcode printers, cash drawers to name a few.

Speaking about the impact on the retail sector, Bhaskar Venkatraman, Director and CEO of Millennium India, a group involved in marketing some of the world’s top POS hardware machines to Indian retailers for the last two decades, said: “GST will make the retail sector more organized as more than 85 per cent of the businesses in India are unorganized and need to be regularized. With GST, there will be a single transparent tax structure throughout the supply chain and clear mechanism to calculate the taxes at various levels. Since several daily use items are exempted from the purview of the GST, people will benefit out of it as some of them will witness decrease in price post GST.”

For retail sector, Bhaskar Venkatraman, who also introduced India’s first and only e-commerce shop (justransact.com) to make top branded POS technology products available online to retailers, said it will be a win-win situation for retail businesses as they are now out of the complex tax laws and filing processes.

On the GST’s impact on POS sector, Bhaskar said: “The net impact on the pricing (of POS products) would be very minimal and in fact would boost the consumption. While in the short-term, GST could be perceived as a tough stance for growth, in the longer run, the retail sector would benefit immensely only to gain because of price harmonization and smooth flow of material across the country.”

Then, what is GST for end customers? The burden or benefit would finally be on the end consumers but an overall win-win situation would prevail, concludes Bhaskar.

 

Media Contact:

K Ramanathan

Media Coordinator, Millennium India

ram@justransact.com

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Cashless Drive will Push India’s Retail Sector to New High

Chennai, India, 2017-Mar-22 — /EPR Retail News/ —  The Government’s ambition to make India a cashless economy was further vindicated by its recent Budget proposals for 2017-18 which have series of measures aiming at pushing cashless transactions even by small retailers across India.

The government has made its intention clear when it first introduced Aadhaar (smart) ID cards as mandatory document to open bank accounts, and later linked all existing account holders and LPG subsidy beneficiaries to prevent malpractices.

But there was still a lot of (unaccounted) cash on circulation and more than 90 per cent of transactions were happening through cash in India with corruption reining high at all levels. The demonetization of higher order currencies announced last November was the last nail in the coffin to rid wide-spread corruption, black money and fake currencies, the three major elements which were weakening the very basic pillars of our economy.

The demonetization has indeed created acute cash crunch forcing people to use plastic money and digital transactions. It was definitely a calculative move by the government to make cash scarce and restricting daily withdrawal limits in banks, so that it can effectively push cashless dealings by individuals and traders.

However, it is grossly inadequate to cater over one billion populace with a meager 1.5 million card swiping POS machines presently offered by banks to retailers.

The retail sector, which is experiencing fast-track growth offering over 10 per cent share to the country’s GDP, presently needs at least five million POS machines to meet the existing demand from retail traders. Looking at the future demand for such devices, we need to scale up this figure to 10 million by 2020.

Though banks were instructed to provide three million POS machines by March 2017, the difficulty to procure make-in-India Mobile POS machines has forced many to look for such devices from countries like China, Taiwan, Japan and European nations. Sensing the delay in getting machines in time, the government has recently relaxed the rules for BIS certification for imported POS machines, which will further reduce the cost and speed up the process of equipping traders with mobile POS devices to do cashless transactions.

The unprecedented demand for mobile POS machines in India has made several local businesses vying to consolidate their position by introducing alternate payment solutions such as mobile wallet or digital wallet using smart phones to Indian retailers. The demand for POS machines has also opened a plethora of opportunities for growth for companies manufacturing and marketing POS machines such as magnetic card readers, POS terminals to do retail billing and other allied devices such as receipt printers, barcode scanners, barcode printers, cash registers, etc.

As Point of Sale remains the lifeline for Indian retail sector, the large scale    usage of POS technology which involves software-driven POS system to carry out host of business operations including desktop billing, mobile billing, cashless transaction using credit or debit cards, inventory management, staff management, customer relation management, multi-store sales tracking, and hosts of other back-end operations crucial for business growth.

Today we have a number of grocery retail stores coming up across the country which offer customers a unique shopping experience with modern POS machines and latest mobile technology, which also help automate their business for better performance and growth. POS has changed the way people shop for their daily needs compared to few years ago.

Retail businesses using mobile card payment option has indeed helped many augment their business. With government announcing a lot of sops for POS sector in its Budget for 2017-18 fiscal, the intention is clear to make the country a cashless economy treading through ‘Point of Sale’. The move will further trigger the already fast-paced retail sector to worth a whopping USD one trillion by 2020 from the present 600 million.

As majority of POS payment devices need to be imported (to meet the target of three million POS machines by March 2017), the government has eased the import norms to make it available freely in the Indian market. The Union budget has proposed tax exemptions in basic customs duty, special additional duty and excise duty for manufacturers of PoS card readers, fingerprint readers, mobile PoS (mPoS) and iris scanners.

The tax exemptions will encourage domestic manufacturers to produce card swipe machines and biometric devices in reduced cost which will strengthen better penetration for digital and Aadhaar-enabled payment systems.

Bhaskar Venkatraman speaks on Union Budget for 2017-18 and its impact on Indian retail sector and POS technology products.

“Millennium India is looking at it as a great opportunity to reach out to millions of retailers with latest POS technology products which include mobile card swipe machines, mPOS devices, POS terminals and other allied devices which will help strengthen digital payment environment in the country. As demand is going to be unprecedented in the coming years, apart from managing through offline marketing, we are also pushing POS devices through our e-commerce arm justransact.com, an exclusive online marketplace for POS technology products,” says Bhaskar Venkatraman, CEO and Director of Millennium Soft-Tech (India) Pvt Ltd and JusTransact.com.

The budgetary proposal to impose banking cash transaction tax on withdrawals above Rs 50,000 will further push customers towards digital transactions. This, along with abolishing of merchant discount rates charges on usage of credit/debit card and giving 50 per cent subsidy on biometric devices will bring more small traders towards cashless transaction. This will also encourage them to use POS machines as they no longer lose revenue in each card transaction.

So, there will be huge demand for POS products in India in the coming years from retailers and POS sector is gearing up to meet the demand and become major stake holder for retail sector’s growth metrics.

After ‘digital India’ initiative, the government’s latest push to make the country a cashless economy  through demonetization and digital payments will create windfall for POS manufacturers and dealers in India as the demand for such devices are going to witness astronomical rise in the coming months.

 

For Media Contact: 

K Ramanathan

ram@justransact.com,  ram.justransact@gmail.com

Millennium Retech Ventures India Pvt Ltd,

G-19,2nd  Floor,Block-16, 2nd Main Road,
Ambattur Industrial Estate, Chennai-600 058.

91+ 9384612789

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Millennium India Bags Best Partner Award from Honeywell

Chennai, India, 2017-Mar-13 — /EPR Retail News/ —  Leading POS technology provider Millennium Soft-Tech India has bagged the “Highest Growth Partner Award for 2016” from the multinational conglomerate  Honeywell India.

The award was presented to Millennium India, a pioneer in introducing Point of Sale (POS) technology products in India, at the recently held ‘REIMAGINE 2017 Leadership Forum’, an annual partner conference hosted by Honeywell Safety and Productivity Solutions, in New Delhi.

Honeywell India team presenting the award to Mr Bhaskar Venkatraman at the REIMAGINE 2017 Leadership Forum event held in New Delhi. Millennium Director V Nandakumar (second from right) also attended the event.

 

The event was held in an effort to unite top leaders from Honeywell’s strong network of channel partners and distributors in India.

Commenting on receiving the coveted award from world’s leading engineering giant, Bhaskar Venkatraman, the CEO and Director of Millennium India said: “It’s a great honour to receive from the technology major with whom we have more than a decade of successful association. Honeywell, with their innovative and customer-centric products, has played a key role in automating retail sector in India.”

“With diversified industrial automation products, Honeywell has broken into many applications simplifying several core operations. For Point Of Sale applications in particular, Honeywell has been offering wide array of technology products which have revolutionised several core industries like healthcare, automobile, hospitality, retail businesses, food and beverage, transport and logistics, to name a few. We look forward to have even more stronger ties with Honeywell in the years to come and would like to see the Brand becoming synonymous with every retail business,” he further said.

For retail and non-retail sectors focusing point of sale and other applications, Honeywell has been the leader in providing several innovative hardware products like area imager scanner, barcode scanner, barcode printer, POS hand held terminal, laser scanner and linear imager scanner.

The partner conclave was a unique opportunity for Honeywell India business leaders and its partners to make deeper connections within the business and new relationships among its broad partner network, a top Honeywell official said.

Round table discussions, industry presentations, and networking sessions were attended by key customers, partners, and top SPS India and global leaders at REIMAGINE 2017 Leadership Forum in India.

 

Media Contact

K Ramanathan

Media Coordinator

Millennium Soft-Tech India Pvt Ltd.,

ram@justransact.com

+91 9384612789

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Mall Owners Look for Sales Data Capture at POS to Bridge Rental Loss

Chennai, India, 2017-Feb-16 — /EPR Retail News/ —  As commercial real estate growth remains sober in cities across India leading to high vacancy levels in Malls, space owners these days adopt new strategy to bring tenants to cover rental revenue loss.

Bhaskar Venkatraman, Founder and Director of JusTransact.com

As per the new trend, retailers agree to pay less monthly rental but part a percentage of their monthly sales revenue to shop owners. However, in the absence of a reliable real time sales data capture system, retailers show tweaked sales data to pay low rent to owners causing huge loss to the later.

But with the availability of new POS software to capture real time sales data from shops, mall owners sitting at remote place can relax. Not only this! They can use these data to find seasonal footfalls, popular stores, popular merchandise,  peak time sales, customers’ shopping pattern and behaviour, and host of other vital business information.

As the concept is new and picking up in India, several POS software vendors offer reliable, transparent and sustainable Concessionaire Sales Data Capture solution to Indian retail sector. POS vendors also offer such services in international and domestic airports and shopping centres across India which can give real time sales to owners and cut revenue loss due to suppression of real sales data.

Airports and shopping malls require innovative technology to track sales from commercial tenants in real time and POS software such as Pathfinder’s POS PATROL offers exactly the same with additional benefits to both retailers and space owners in terms providing visibility of real time retail operations, customers’ preferences and analytical data on various parameters which can be used to improve sales.

The commercial structures are empowered to automate data capture processes through consistent and dependable system and the requisite data can be accessed online and interpreted for future usages. Sales Data Capture solution has revolutionized airports and shopping centres by offering Retail Intelligence services which has helped brands and space owners alike to improve operational efficiency, reduce cycle time, fast realization of revenue, high cash flow and improved non-aviation revenues.

POS Patrol, for example, has so far wired over 9500 retail outlets spread across 60 shopping centres and four international airports where every sale is accounted for consistent data flow and auditing.

Commenting on the trend, Bhaskar Venkatraman, Founder and CEO of JusTransact.com, a leading e-commerce portal dealing with Point of Sale technology products and solution in India, said: “Capturing real time sales data at Point Of Sales (POS) counters is the best possible way to track sales and avoid tenant-owner conflicts over rental issue. The sales data capture offers Retail Intelligence Services which is beneficial for both retailers and space owners.”

Benefits for retailers

Sales data captured can help airports and shopping malls to develop a good tenant mix, which brings more footfalls and revenue.

The sales and other information can be used to understand the Retail Dynamics of array of stores spread across vast area in just one stroke, which otherwise will be time consuming, difficult to manage, involves huge man power, and also error-prone in collecting sales data.

The data on retail operations can be utilized by stores to improve insights on sales revenues and performance.

How it works

Take for example a shopping mall having more than 100 retail outlets. All these shops are provided with POS solution for billing, staff and inventory management tool. At the same time, a software tool is embedded with each POS system which sends every sales detail to the server of the mall owners. As these days, rents are paid on the basis of revenues generated per month, sales data capture software restrains retailers from concealing the actual sales figures to pay low rent to shop owners.

The same system also works for airports where Concessionaire Sales Data Capture system is used to wire all the retailers inside the airport premises to capture real-time sales data.

 

Media Contact:

K Ramanaathan

ram@justransact.com

+91 9384612789

###

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Make it POSsible this Diwali, Justransact Tells Businesses!

Chennai, India, 2016-Oct-26 — /EPR Retail News/ —  Posiflex, the leading Point of Sale technology products makers from Taiwan, in collaboration with JusTransact.com, an e-commerce arm of Millennium India, which deals with POS technology products for Indian retail businesses, today introduced festival offer for end-customers on its flagship and award winning MT 4008 series Tablet POS.

diwali-dhamaka-offerCustomers, apart from getting price advantage for all the four variants of MT 4008 Tablet POS, also get an additional three years comprehensive warranty over and above the existing one year manufacturing warranty.

Buyers can now claim accidental damages or theft for their tablet POS for three years from the date of purchase subject to the terms and conditions. The three year offer however, does not include the battery, which currently has one year replacement warranty.

All the four variants of MT4008 such as MT4008 W/R (With Pistol + 2D Barcode Scanner), MT-4008W/H, MT4008 A/R (With Pistol & 2D Scanner) and MT4008 AH (without pistol grip) are now available on jusTransact.com, which is also running Diwali offers for various other POS products of other leading brands such as Epson, GoDex, Zebra, TSC, Honeywell, Motorola, Trucount, Wep, Opticon and TVSE.

A senior official from JusTransact said, “The festival offer on Point of Sale (POS) products which can be used over a wide range of retail applications, is aimed at empowering businesses to automate their POINT OF SALE counters and hence helping them compete with larger counterparts in terms of improved customer experience. The offer by Posiflex on its award-winning MT4008 series will revolutionize the Point of Sale industry in India as it brings both affordability and technology to retailers offering them with one-stop solution for all their POS needs with single device.”

JusTransact’s ‘Diwali Dhamaka Offer’, where buyers can save up to 15 per cent, is available on POS terminals, Barcode printers, Barcode scanner, Desktop Receipt printers, Mobile printers, Cash drawers, Data collector, Mobile POS and Touch cash registers.  The current festival offer is valid till stocks last.

For more details on offers, log on to http://www.justransact.com/offers

About JusTransact.com


Justransact.com is an e-commerce venture of Millennium Retech Ventures India Pvt. Ltd promoted by Millennium Group. JusTrasact.com was launched with a sole motive of providing reliable, affordable and scalable POS solutions to the fast growing retail sector in India. POS technology facilitates small, medium and large businesses automate their activities, enhance customer experience and also make them competitive with established players. The portal has made world-class cutting-edge POS Hardware, Software and Knowledge accessible to retailers. Headquartered in Chennai and having branches in major cities in India, Justransact.com offers one-stop solution for all kinds of POS needs to both retail and non-retail business applications. The portal currently sells 1000+ POS products of 15+ categories from 40+ world’s leading brands.

Media contact:

K Ramanathan

+91 09384612789

ram(at)justransact(dot)com

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JusTransact Opens Online Bazaar for Indian POS Sector

Chennai, India, 2016-Oct-05 — /EPR Retail News/ — After its successful launch of India’s first E-commerce online market place for Point of Sale (POS) technology – JusTransact.com, Millennium India has added yet another ‘first’ to its credit by unveiling country’s only online B2B portal for POS brands and distributors who can converge at one place to transact simultaneously.

Aimed at cutting down the huge supply chain losses faced by thousands of hardware and software POS products vendors across India and improve sales volume of Brands, JusTransact’s Partner Zone also aimed at ‘empowering’ small, medium and large enterprises across the nation by automating their business with affordable, scalable and world-class POS technology.

bhaskar-4

Bhaskar Venkatraman, Founder and CEO, JusTransact.com

Commenting on the launch of JusTransact’s Partner Network (http://partner.justransact.com/), Bhaskar Venkatraman, Founder and CEO of jusTransact.com said: “JusTransact’s partner network throws open a unique opportunity for both POS brands and resellers who can communicate directly on a single platform, thereby cutting the supply chain losses in terms of time and money. Resellers can directly get POS products from manufacturers at much lower price and can hence pass on the cost benefit to their customers, who are predominantly small and medium retail businesses. For brands, they can find all buyers in one place and hence get great traction and growth. In short, it is a win-win condition for both brands and vendors.”

For partner network, jusTransact plays a pivotal role in connecting both POS brands across India and local vendors who can be either main/region-wise distributors, vendors, stockists, software service providers, or stores selling POS products to retail businesses.

Further listing the advantages of partner portal, Bhaskar, who is also one of the pioneers in introducing POS technology in India, said: “POS Manufacturers need not have to look for distributors for their products, but can simply register with us and sell their products. Their products can be seen only by registered vendors, who can order POS products with appropriate quantity instantly. To facilitate fast and reliable goods movement, we offer free logistics service. We pick, pack and ship to buyer’s address wherever they are.”

To make it attractive, jusTransact has kept registration ‘free’ for partners and also introduced JusMoney wallet where points are credited for every purchase which can be adjusted against the purchase value.

JusTransact currently deals with over 1000 POS products of more than 40 top brands including Epson, Honeywell, Toshiba, Posiflex, Godex, TVSE, Opticon, Casio, Bixolon, Zebra, Essae, to name a few.

Bhaskar expects that more POS brands will make use of Partner Network Zone and offer their products such as POS terminals, barcode scanners, barcode printers, automatic cash drawers, receipt printers, mobile POS, hand held terminals, etc at attractive prices to vendors, who otherwise get them from local distributors at much higher price. “The partner network will also help to speed up the automation process of India’s retail sector where more than one million traders are still following traditional transactional practices,” he said.

The Justransact partner network for POS will also create a level playing field as every vendor – from main distributors to local stockists – across India will get their goods at same price thereby avoiding unethical business practices, opined Bhaskar.

About JusTransact.com

Justransact.com is an e-commerce venture of Millennium Retech Ventures India Pvt. Ltd promoted by Millennium India Group. JusTransact.com was launched with a sole motive of providing reliable, affordable and scalable POS solutions to the fast growing retail sector in India, which is estimated to worth one trillion USD by 2020. POS technology facilitates small, medium and large businesses automate their activities, enhance customer experience and also make them competitive with established peers.

The portal has made world-class cutting-edge POS Hardware, Software and Knowledge accessible to retailers. Headquartered in Chennai and having branches in major cities in India, Justransact.com offers one-stop solution for all kinds of POS needs to both retail and non-retail business applications.

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Payment Infrastructure Market in India Sets for Makeover

Chennai, India, 2016-Sep-09 — /EPR Retail News/ —   Indian point of sale (POS) terminal market has grown up to worth INR 2.15 billion in 2015 and is poised to reach INR 3.86 billion by 2022 aided by unprecedented demand triggered by government’s move to open millions of bank accounts with ATM/debit/credit card facility, according to an analysis by the leading international research firm, Frost & Sullivan.

mposWith government opening up banking sector to rural folks, India’s payment infrastructure is set to witness an explosive growth, and the country, which is presently the 13th largest plastic economy in the world, has a great potential to scale up the ranking as more retail businesses are being introduced to PoS systems.

The study by Frost & Sullivan titled – Analysis of the Indian Point-of-Sale Terminals Market -says that India, with 35% of population presently having bank accounts, will also witness a huge demand for wireless POS terminals owing to less complexity and ease of use.  The wireless PoS terminal market is growing rapidly and will surpass wired terminals by 2022, the study said.

The researchers however felt that India’s payment terminal market though growing at a faster pace than its South East Asian peers, its penetration and usage was much less compared to Western counterparts. This is primarily due to a wide gap between the number of plastic cards issued against the number of installed PoS terminals and reluctant to adopt POS terminals by small and medium business establishments.

“In order to introduce banks to the huge population in India, private and nationalized banks should play a key role in rapidly expanding their operations across all tiers of cities,” felt Aiswarya KG, Frost & Sullivan Electronics and Security Research Analyst, who further added that there should be a concerted effort to create awareness on security of bank accounts and transactions which will change customer sentiment and promote cashless transactions.

In India, PoS terminals are widely used in Tier-1 cities while Tier-2 and Tier-3 cities are catching up gradually. Projects such as Jan Dhan and Micro ATMs are upping the usage of PoS terminals in rural areas.  Also, the recent introduction of chip-plus-pin authentication provides double security advantages for consumers making transactions through cards.

The accelerated growth of cashless transactions using credit/debit cards by e-commerce websites are surely going to make a dent on POS terminal market, the report felt, which further added that though card-on-delivery is gaining momentum across major cities, online transactions have gained the lion’s share in the digital transactions.

Bhaskar Venkatraman, Founder and Director of Millennium Group.

Bhaskar Venkatraman, Founder and Director of Millennium Group.

“Interestingly, more than 80 per cent of retail businesses in India still do not have a PoS terminal as they do transactions through traditional means. With the present government pushing cash-less transactions across the nation, there will be more adaptation for plastic currency, with card issuers, banks and retailers offering value-added services for card holders,” says Bhaskar Venkatraman, Founder and Director of JusTransact.com, a leading e-commerce portal in India for Point of Sale products such as POS terminals, barcode scanners, receipt printers, barcode printers, hand-held terminals, etc.

About JusTransact.com

Justransact.com is an e-commerce venture of Millennium Retech Ventures India Pvt. Ltd promoted by Millennium Group. JusTrasact.com was launched with a sole motive of providing reliable, affordable and scalable POS solutions to the fast growing retail sector in India. POS technology facilitates small, medium and large businesses automate their activities, enhance customer experience and also make them competitive with established players. The portal has made world-class cutting-edge POS Hardware, Software and Knowledge accessible to retailers. Headquartered in Chennai and having branches in major cities in India, Justransact.com offers one-stop solution for all kinds of POS needs to both retail and non-retail business applications. The portal currently sells 1000+ POS products of 15+ categories from 40+ world’s leading brands.

Media Contact:

K Ramanathan

9384612789

ram(at)justransact(dot)com

G-19,2nd Floor, Block-16, 2nd Main Road,

Ambattur Industrial Estate,

Chennai-600 058.

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Goods and Service Tax (GST) can Alter Economic Prospects of India: Industry Experts

Chennai, India, 2016-Aug-12 — /EPR Retail News/ —  The long awaited Goods and Service TaGST1x (GST) has passed the last mile hurdle with country’s upper house of Parliament clearing the Bill on Wednesday, after much deliberations and amendments to appease the strong opposition. How does this tax reform going to benefit the retail sector which has been making a strident growth and become one of the fastest growing sectors? JusTransact.com asked a few industry veterans about the pros and cons of GST implementation. Excerpts…

Baskaramoorthy.jpgBaskaramoorthy, VP Sales, Posiflex India: “End users might end up paying additional taxes if percentage of taxes under GST regime is increased from the current VAT level. However, it will help traders and manufacturers to leverage business across India with effective supply chain and distribution of products.  The biggest relief is that GST will do away with the current C-form and interstate forms which are presently collected at the end of each year.”

BhaskarBhaskar Venkatraman, Director, Millennium India, a veteran in Point of Sale technology in India: “GST in the present format is going to benefit the economy, businesses and consumers alike. As it is going to replace 17 indirect taxes, tax procedures will be more simple and transparent. Apart from pushing up tax revenues, the corruption at check posts and slow-movement of trucks will become the things of the past. Since calculation of tax is going to be uniform across all states, finance people will heave a sigh of relief as they no longer muddle with complex forms while dealing with inter-state goods movements.”

AntonC Anton Jabadurai, Country Head, Bixolon India: “GST will facilitate the possibility of automation in tax calculation and goods processing, which will increase the requirement of POS hardware across India. Apart from smoothening the supply chain management, GST implementation will create a transparent tax regime across all states which will benefit both traders and end-customers. In the long run, the frequent price rise due to high transportation and warehousing cost will come down drastically.”

Anuj PuriAnuj Puri – Chairman & Country Head, JLL India: “The Goods and Services Tax (GST) is the most essential taxation reform which is going to alter India’s economic prospects. Single taxation, covering all goods and services, is a welcome change. GST will eliminate cascading effect of taxes, and will boost tax collection while reducing overall taxation levels. However, post GST, the results will be evident only after two-three years from now.”

Slated to increase the country’s GDP by one point, the GST era, which is going to unfurl from April 2017, will surely be the new chapter in India’s tax history post Independence. How far it will benefit the country and common man, one has to wait and see.

Media Contact:

K Ramanathan,

India

+91 09384612789

###

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Millennium showcases advanced POS technology at IWS 2016

New Delhi, India, 2016-Jun-07 — /EPR Retail News/ — Millennium Soft-Tech (India) Pvt. Ltd., a leading POS technology provider in India India warehousing show 2016having wide partner network, is showcasing the most advanced POS technology to support warehousing, logistics and supply chain management at ‘India Warehousing Show (IWS) 2016, which begins on June 8 at Pragati Maidan in New Delhi.

Millennium will be displaying some of the widely used, industry specific and application-oriented POS devices such as wired and wireless barcode scanners, portable data terminals, industrial and domestic barcode printers, colour label printers, data collectors, portable data terminals and table-top scanners from the world’s leading brands like Toshiba, Honeywell, GoDex, Epson and Opticon.

Bhaskar Venkatraman, founder and director of JusTransact.com

Bhaskar Venkatraman, Group director, Millennium India.

Speaking on Millennium’s second successive participation in India Warehousing Show, Bhaskar Venkatraman, group Director of Millennium India, said: “We are overwhelmed to be a part of one of the largest warehousing expos in the world. We have over two decades of market exposure in the Point Of Sale technology in India, which we are bringing in here to showcase the latest advancement in technology to benefit warehousing, logistics, material handling and supply chain businesses. We strive to reach out to them with the most modern and latest POS technology and help them sophisticate their businesses through wide range of POS products suitable for their application and industry.”

The sixth edition of the three-day mega supply chain event is expected to be visited by over 10,000trade visitors representing high level decision-makers and buyers from across the globe.

To make visitors understand the relevance of products suitable to their business, Millennium is offering demos of various products applicable for warehousing and supply chain management at their stall (12 A).

“With the advent of e-commerce industry in India, the need of warehousing and logistics infrastructures has grown manifold and we strive to address the huge demand for quality and efficient supply chain management needs from warehouses and logistics players by introducing the advanced technology to make their day-to-day operations organized, faster, easy and hassle-free.”

The Fair offers visitors a complete view of the entire process chain of the warehousing, transportation and logistics industry. Over 200 domestic and international exhibitors are presenting innovative products and services for trade visitors and entrepreneurs who will get an opportunity to exchange ideas and make new business contacts.

The exhibition is being organized by Reed Manch Exhibitions, a joint venture between Manch Communications of India and UK’s Reed Exhibitions.

About Millennium Soft-tech (India)

Established in 2002, Millennium Soft-Tech (India) Pvt Ltd has been in the forefront of providing Point Of Sale (POS) technology products and solutions to Indian businesses through astute marketing strategy supported by huge partners’ network across India. Launched and lead by Bhaskar Venkatraman, a veteran in POS technology having over two decades of market exposure, Millennium has a clear motive of empowering millions of unorganized small and medium enterprises spread across the country by automating their transaction activities and make them competitive with established market peers.

Headquartered in Chennai and having branches all across India, Millennium is credited with excellent logistics supports and capable of reaching products to customers’ doorsteps even in remote areas. Providing nation-wide distribution for leading multinational POS brands including Epson, Posiflex, Casio, Toshiba, Honeywell, Godex, and Opticon, Millennium offers POS solutions to corporate brands, retail giants and SMEs across India.

Media contact: 

K Ramanathan, ram(at)justransact(dot)com,

G-19,2nd Floor, Block-16, 2nd Main Road,

Ambattur Industrial Estate,

Chennai-600 058.

P: +91 9384612789

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FDI in Indian E-commerce will stop price wars and streamline operations: Bhaskar Venkatraman

Chennai, India, 2016-Mar-30 — /EPR Retail News/ —  The Indian government’s move to open up E-commerce market place to Foreign Direct Investments (FDI) will, apart from bring in more foreign investments and improve economy, also streamline and regulate the market while arresting the unethical price competitions, says Bhaskar Venkatraman, Founder and Director of JusTransact.com, an exclusive e-commerce market place for Point Of Sale (POS) products and consumables, for both retail and non-retail applications.

Bhaskar Venkatraman, Director, JusTransact.com

Bhaskar Venkatraman, Director, JusTransact.com

Reacting the government move to allow 100% FDI in India’s e-commerce sector, Bhaskar, who is one of the pioneers in introducing POS technology to Indian retail market, says,  “This is a good step with a long term vision and a step towards bring in regulations and healthy competition among e-commerce companies. The move will arrest un-ethical price competitions vis-à-vis brick-and-mortar counterparts which will ultimately benefit end users. This will also change consumers’ perspective towards online shopping as they give more weightage to convenience rather than the price factors.”

On the flip side, the entry of international biggies into Indian e-commerce sector will lead to realignments of local companies, which is unavoidable in the present scenario. This will trigger healthy competition and improve products’ standards in the market, a win-win situation for consumers.

About JusTransact.com

Justransact.com is an e-commerce venture of Millennium Retech Ventures India Pvt. Ltd promoted by Millennium Group. JusTrasact.com was launched with a sole motive of providing reliable, affordable and scalable POS solutions to the fast growing retail sector in India. POS technology facilitates small, medium and large businesses automate their activities, enhance customer experience and also make them competitive with established players. The portal has made world-class cutting-edge POS Hardware, Software and Knowledge accessible to retailers. Headquartered in Chennai and having branches in major cities in India, Justransact.com offers one-stop solution for all kinds of POS needs to both retail and non-retail business applications. The portal currently sells 1000+ POS products of 15+ categories from 40+ world’s leading brands.

Media contact: 

K Ramanathan,

ram(at)justransact(dot)com

G-19,2nd Floor, Block-16, 2nd Main Road,

Ambattur Industrial Estate,

Chennai-600 058.

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Budget 2016: Indian Retail Sector Feels Let Down by FM

CHENNAI, India, 2016-Mar-11 — /EPR Retail News/ — The Union Budget for the 2016 fiscal though focused more on farm sector and gave a balanced outlook to other industries, stakeholders of the Indian retail sector believe that the Budget did not offer any direct proposal to boost the sentiment of the business community but the sops offered to other sectors will have their implications on the retail sector’s long-term growth.

India’s retail sector, which is the third largest employment generator after agriculture and construction industry, adds considerable momentum to the country’s GDP year-on-year. According to industry sources, though there are no big-ticket announcements in the budget to add fuel to the retail sector’s growth, certain indirect measures proposed by the Finance Minister Arun Jaitley will improve the buying sentiments among the middle-class, and add up to the growth of retail and allied sectors.

Bhaskar Venkatraman, Founder and Director of JusTransact.com

Bhaskar Venkatraman, Founder and Director of JusTransact.com, an exclusive online market place for Point Of Sale (POS) technology products, says, “The announcements on GST, change in custom/excise duty structure and separate fund allocation for skill and rural markets development will improve the consumption in the long run. The GST, once implemented, will help eCommerce firms rationalize their supply chains by meeting taxation issues. For eCommerce, measures proposed to meet infrastructural challenges will improve the reach and connectivity. However, the budget lacked big announcements to face-up the retail sector. More so, being the backbone of the retail sector, it was natural to expect relaxation on import duty on POS technology products and proposals to encourage cashless transactions in the budget.”

The government, as an indirect measure, has proposed to allocate Rs 97,000 crore for road sector which will ultimately improve the transportation and logistics commitments of the retail, e-commerce and warehousing sectors. There is also a proposal to introduce Rs 1000 cr fund to incubate technology-start ups which will boost digital/ecommerce sector, feel experts.

Baskaramoorthy.jpg

Baskaramoorthy D, Vice-President – Sales, Posiflex Technology (India).

Baskaramoorthy D, Vice-President – Sales, Posiflex Technology (India), which offers POS and other technology products to retail sector, feels that the budget offered nothing to encourage common man. “Prima facie the budget does not encourage the common man to indulge in expenditure, which is not going to be good for the retail sector. One needs to wait and watch how the ‘Make-in-India Program’ gets implemented with clear government policy & its impact on economy,” he says. 

Anuj Puri, Chairman & Country Head of JLL India, a leading research firm, feels that the proposal to revamp model shops & establishment Act will help the retail sector immensely.

anuj puri

Anuj Puri, Chairman & Country Head of JLL India.

“The unorganised retail businesses will receive a fillip as even small shops will get the support to open 24X7 just like malls and super markets. This not only will improve business and facilitate shoppers to get their things on all days, but also lead to more employment opportunities. However, we will have to wait and watch the reactions from the labour market,” Puri feels.

However, the silver lining is that no direct taxes to tax the retail sector as of now till we get to know the implications of GST next year, which will bring in uniform tax regime all through India, feels Bhaskar.

About JusTransact.com

Justransact.com is an e-commerce venture of Millennium Retech Ventures India Pvt. Ltd promoted by Millennium Group. JusTrasact.com was launched with a sole motive of providing reliable, affordable and scalable POS solutions to the fast growing retail sector in India. POS technology facilitates small, medium and large businesses automate their activities, enhance customer experience and also make them competitive with established players. The portal has made world-class cutting-edge POS Hardware, Software and Knowledge accessible to retailers. Headquartered in Chennai and having branches in major cities in India, Justransact.com offers one-stop solution for all kinds of POS needs to both retail and non-retail business applications. The portal currently sells 1000+ POS products of 15+ categories from 40+ world’s leading brands.

Media contact:

K Ramanathan
ram(at)justransact(dot)com
G-19,2nd Floor, Block-16, 2nd Main Road
Ambattur Industrial Estate,Chennai-600 058.

PH: 09384612789 (+91)

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Indian warehouse and logistics industry set for makeover

Chennai, India, 2016-Jan-28 — /EPR Retail News/ — Warehouse management, which forms the backbone of distribution network across India, is all set for a complete makeover, thanks to the advancement in barcode technology which has taken an unassailable control over the effective, safe and error-free dissemination of millions of consignments across the country.

During the first half of 2015 (January-June), around 6 million sq ft was taken up by warehousing space occupiers across the country, a growth of nearly 60 per cent compared to the corresponding period in 2014.

The booming E-commerce sector, improving domestic economy, effective legislative reforms and of course, technological innovations in warehousing management have played pivotal roles for the staggering growth of Logistics and Industrial Market in India, feel experts.

Though barcodes have evolved to be 1D, 2D and now 3D patterns, scanner guns aka barcode scanners have undergone a sea change over the decade helping businesses to boost their productivity multi-fold.

From table-top and hand-held scanners to the most advanced smart phones, companies worldwide have always been on the lookout for the best alternative to the conventional gun type scanners that have been in vogue for decades.

Bhaskar

“The idea was to save a few precious seconds and efforts of workers while selecting, packing and shipping goods. The smart phone scanners offer fast and efficient warehousing solution for businesses. These devices, not only help warehouse workers to effortlessly scan barcodes and clear thousands of consignments a day, they also reduce fatigue, lessen possible human errors and improve productivity. Businesses too can track goods stored and moving out of warehouses in real time,” says Bhaskar Venkatraman, Founder and Director of JusTransact.com, a B2B ecommerce marketplace in India offering barcode scanners, barcode printers and other Point of Sale (POS) hardware devices to retail and non-retail businesses.

The gun type barcode scanners, where the workers have to hold the device and press the button each time they aim on barcodes, have been replaced by much sleeker, light-in-weight, integrated, press-free mobile scanners which help workers to read the barcodes on consignments by just aiming from distance. These devices are mini computers themselves that can store large amount of data for analytical and other business planning purposes in future.

Zebra Technologies, one of the leading makers of scanners, is betting on their new gun which they claim, will eliminate the need for warehouse workers to extend their arms continuously or turn their wrists. Zebra says its new baton-like device which has a camera and touch screen, manifolds scanning speed and reduces stress on workers’ arms. Other leading brands in market such as Honeywell, Motorola, TVSE, Argox, Datalogic and Unitech have entered the market with their new offerings – all sought to improve efficiency and productivity of warehouse workers.

Dinesh Gupta, general manager of Kolkata-based High End Logistics, says every employee in his warehouse makes around 3,000 scans during his 8-hour shift. The ergonomically designed and improvised barcode scanners helped his employees to achieve 10-20 per cent improvement in picking rates because they no longer had to push buttons.

Online retailers as well as logistics firms are looking for new ways to improve efficiency to offset the increased transportation and labor costs while fulfilling online orders. Fierce competition from e-commerce companies on both speed and price factor has forced them to find ways to cut costs and reduce delivery times, experts say.

So, every second saved by employees at warehouses while picking or packing process does matter for companies which transport millions of cartons daily though their distribution networks across India, says Bhaskar, whose portal offers most advanced barcode scanners and printers from over 40 leading manufacturers.

According to a VDC Research, the global sales of mobile scanning devices used in warehouses have reached $850 million in 2015, showing a 33 per cent rise since 2013.

“The exploding e-commerce is driving the market need for advanced data capture solutions,” says Richa Gupta, a research analyst, who further states that by frequently pressing the button while scanning barcodes, employees may develop health hazards like injury to hand or orthopedic disorders.

Endorsing this Dr Bashir Ahmed, a senior ortho-surgeon from Vijaya Health Centre in Chennai, says, “Warehouse employees can suffer from carpal-tunnel syndrome and other injuries due to repetitive hand/finger movement.”

While gun type scanners still rule the transportation and warehousing industry in India, the advanced smart phone type integrated scanners or Point of Sale hand-held devices should be adopted by companies to bring in more efficiency in warehouse management and also avoid occupational health issues among employees.

For media contact:

K Ramanathan

Content Head, JusTransact.com

Mail: ram@justransact.com

PH: +91 9384612789

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Now invisible barcodes to dodge counterfeits at Point of Sale

Chennai, India, 2016-01-13 — /EPR Retail News/ — Barcodes came into existence half a century ago to speed up the check out process at retail outlets, enhance customer experience and promote businesses. But the booming retail sector, ever increasing demand for faster check-out alternatives and increasing incidents of counterfeit items despite barcoding them, have forced technologists to strive for a fool-proof, reliable and still faster mode of dispatching goods at Point of Sale (POS) counters.

If the new technology unveiled recently by Beaverton-based Digimarc Corp goes viral, the black and white stripes will become extinct in another few years, to be replaced by a new concept called “invisible barcodes”, which are not only reliable and reduce the chances of malpractices, but also help faster checkouts.

The new technology will avoid POS counter staff to look for barcodes printed on items which consumes a second or two to locate the barcodes before running them across the scanner.

The Digimarc barcodes, not visible to human eyes, can be embedded with details of retail items and can be scanned by special barcode scanners.

To try this new path-breaking technology, grocery chain New Seasons in upscale Portland has signed up with Digimarc to use their technology at their retail outlets.  Accordingly, all the packed items on shelves were printed with barcodes that were invisible to human eyes. But, scanners equipped with new technology were able to scan them right away.

Digimarc has been working on digital watermarking for close to two decades with less success. “We have been slow but persistent,” says chief executive Bruce Davis.

In addition to easy checkouts, Digimarc feels that the new technology will help prevent frauds by stopping retailers from pasting one barcode over another and enable more attractive packaging.

Retailers are steadily upgrading their barcode scanners at check-outs from laser-based to optical imaging technology that works like a digital camera, and also compatible to Digimarc’s new technology.

If the visible barcodes got replaced in another few years, New Seasons, a relatively small grocery chain, will make history for being the first to adopt the invisible barcode technology in the world.

So, are we going to witness a slow and steady extinct of barcodes which can be seen on everything from soap packs to water bottles?

Not for a decade or more, feels Bhaskar Venkatraman, founder and director of JusTransact.com, an e-commerce marketplace selling exclusive POS products like barcode scanners, printers and POS peripherals.

Bhaskar Venkatraman, founder and director of JusTransct.com

Bhaskar Venkatraman, founder and director of JusTransact.com

 

“But, over a period of time, the barcode may become obsolete. As far as India is concerned, if the technology succeeds, we can expect the change in another ten years. Till then, 1D/2D barcodes will rule the retail points of sale,” he further added.

Media contacts

K Ramanathan,

JusTransact.com
G-19,2nd Floor, Block-16, 2nd Main Road
Ambattur Industrial Estate,Chennai-600 058
t : 91-44-43551366 | e : ram@justransact.com
m: 91-9384612789 | w: www.justransact.com

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mPOS Set to Revolutionize Indian Retail Sector

Chennai, India, January 13, 2016 — /EPR Retail News/ — Indian retail market is evolving at a rapid pace riding on technology innovations and customers’ changing preferences for superior shopping experience.

A lot of changes had happened during the last decade at Point of Sale (POS) counters as customers increasingly prefer cash-less transactions, and businesses have readily adopted right payment system for faster check-outs and better payment management.

One of the best ways the brick-and-mortar retailers can handle faster check-outs at their stores is via mobile-POS devices. These devices are like hand-held smart phones that are capable of accepting payments through cards, providing instant receipts and storing data for managing inventory, sales and other back-end business functions.

India, with close to 500 million credit/debit card holders and 700 million smart phone users, set to trigger cash-less transactions through mobile POS devices and online transactions, say analysts.

As per an estimate by the country’s leading banker Reserve Bank of India (RBI), India needs another 20 million M-POS devices in five years from the current 1.2 million sets to provide alternative retail delivery channels to both urban and rural populace across the country.

Predicting that M-POS will be a game changer for Indian payment market in 2020, Bhaskar Venkatraman, founder-director of JusTransact.com, India’s first e-commerce marketplace exclusively for Point Of Sale (POS) technology and solutions, says: “There are two reasons which can trigger the growth of M-POS in India – mobile devices becoming ubiquitous across the country with widespread internet penetration and customers craving for enhanced shopping experience with fast, convenient and cash-less transactions.  M-POS then becomes the natural choice to bridge the gap and promote card-based commerce for retailers. Also, fast evolving technology has changed the use cases of M-POS devices. Along with M-POS, we also expect more demand for Tablet POS and Cloud POS devices as the present generation retailers are more inclined to use latest technology to offer sophisticated shopping experience to buyers.”

Apart from the convenience in transactions and high customer experience, retail businesses choose mPOS devices to close the deal the moment customers make a decision on products without giving them time to change their mind when they proceed towards the checkouts, says Nimish Chandra, who manages a retail showroom selling electronic home appliances in Bangalore.

Despite the anticipated surge of these ‘anywhere commerce devices,’ Bhaskar doesn’t expect that mPOS will replace the traditional POS terminals in the near future.

“I think, to begin with, there will be a very little displacement due to mPOS in emerging markets like India where traditional POS systems are still ruling the roost. However, in the SMB environments, tablets will offer an attractive to traditional POS and mPOS. The displacement will be minimal at least for the next five years,” Bhaskar, who is also a domain expert in POS technology, feels.

He predicts that India will emerge as a leader in mPOS users in the Asia-Pacific region by 2019 as there has been a huge dependency on cash-on-delivery for e-commerce transactions which will open the gates for millions of mPOS deployments across the country.

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justransact_logo

Media contacts

K Ramanathan,

JusTransact.com
G-19,2nd Floor, Block-16, 2nd Main Road
Ambattur Industrial Estate,Chennai-600 058
t : 91-44-43551366 | e : ram@justransact.com
m: 91-9384612789 | w: www.justransact.com

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India: POS to Scale up Retail Sector Growth in 2016

Chennai, India, 2015-12-31 — /EPR Retail News/ — The fast evolving consumer preferences associated with advancement in technology has made the Indian retail sector one of the most vibrant among the Asian peers with the market indicators forecasting the sector to cross US $ 1 trillion by 2020 from the present $600 billion riding on 13 per cent Compound Annual Growth Rate (CAGR).

While government policies and macro economic conditions act as catalysts, technology plays a pivotal role in revamping the sector towards fast-track development. Thanks to advancement in Point of Sales (POS) technology, sales counters across India are witnessing complete makeover with traditional retail giving way to organized business environment clocking exponential growth. Automating operations by brick-and-mortar businesses with cashless transactions for enhanced customer experience is gaining ground across Indian cities.

Point of Sale hardware products such as barcode scanners, thermal receipt printers, electronic cash registers, barcode printers, Touch POS monitors, mobile/tablet POS and Cloud POS are in great demand with manufacturers expecting good sales in 2016 due to improved market conditions, feel experts.

Bhaskar Venkatraman, Founder and Director of JusTransact.com, an e-commerce portal offering POS technology products to retail and non-retail businesses in India, says: “Indian retail sector has finally taken wings riding on POS technology to make new strides in the coming years. POS is one of the major growth ingredients for retail sector. With government opening up FDI in retail sector and Goods and Service Tax (GST) Bill becoming a reality in 2016, the POS market is expected to witness unprecedented growth by 2020 clocking two million POS installations from the current one million mark.”

However, on global perspective as per a 2014 estimate, of the 250 billion cashless transactions, India accounts for only 0.2 per cent through 1.2 million POS installations. With Reserve Bank of India (RBI) relaxing rules to allow cash withdrawals through POS machines across India, the demand for POS machines are going to go up further in the coming year, opines Bhaskar.

According to RBI Deputy Governor R Gandhi, “If India needs to reach the average levels of BRIC nations, we need to have another 20 million POS terminals from the present 1.2 million machines connecting rural and urban areas. With India having more than one billion mobile connections, the retail payments in the next five years would be increasingly driven through mobile payments, the top RBI official lamented.

Recently, several state governments including Rajasthan, Andhra Pradesh, Orissa and Madhya Pradesh have started introducing POS machines at their fair price shops to reduce pilferage of food items meant for public distribution. These hand-held POS devices with biometric fingerprint scanner will soon find place in thousands of ration shops across the country.

Expressing optimistic about POS market in India, D Bhaskaramoorthy, Vice-President – Sales, Posiflex Technology (India) Pvt. Ltd, one of the leading POS hardware brands in India, says, “With FDI opening up for Retail sector and GST implementation looking brighter in 2016, we can foresee a potential growth for retail segment vis-à-vis POS and peripherals in India as more and more stores are expected to automate their business to enhance sales and back-end operations.”

Implementation of GST will enable easier movement of goods across the nation, thereby benefiting retail operations pan-India, he says.

Media contacts

K Ramanathan,

JusTransact.com
G-19,2nd Floor, Block-16, 2nd Main Road
Ambattur Industrial Estate,Chennai-600 058
t : 91-44-43551366 | e : ram@justransact.com
m: 91-9384612789 | w: www.justransact.com

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Bhaskar Venkatraman, Founder and Director of JusTransact.com

Bhaskar Venkatraman, Founder and Director of JusTransact.com

Indian POS

Indian POS