Stores incur losses as transaction failures occur in PoS machines

NEW DELHI: As demonetization hit the Indian economy on its backbone, aiming to make the country cashless and black-money free, it has also opened a new pandora’s box of problems and issues to deal with.

According to store owners, PoS machines stop working during peak hours and weekends. It has been over a month since demonetization came into force, but difficulties continue to hover over cashless transactions.

Departmental stores around the city are complaining about frequent transaction failures through point of sale (PoS) machines during rush hours and weekends. Though stores are willing to accept payments through other cashless modes like cheque-banking, internet banking, e-wallets and even providing credit, customers are still facing an inconvenience.

Jeetpal Singh, owner of a mobile recharge store in Lajpat Nagar said,”Internet banking might sound convenient, but it is not practical which such slow internet speed across India. When servers are down, the transaction freezes and we loose our customers due to poor internet connection.”

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