Diebold Nixdorf, a global leader in enabling connected commerce across financial and retail industries, is looking to take its ePoS solutions to Tier 2 and Tier 3 cities in India.

This is part of its strategy to grow its retail business in India, Jaivinder Singh Gill, Managing Director, South Asia, and Vice-President, Operations, Asia-Pacific, Diebold Nixdorf, told BusinessLine .

Already a market leader in the ATM segment in India with 49 per cent market share and presence in 4,000 cities, Diebold has so far been focussed only on Tier 1 cities as regards its retail business.

As on date, Diebold Nixdorf has deployed 29,000 ePoS machines in Tier 1 cities.

Gill sees ample opportunities to grow its retail (ePoS) side of the business in India. The target is to grow retail revenues by 30-40 per cent this fiscal, he said.

“We have started work (entering Tier 2 and Tier 3 cities). We should get returns in 2018-19. We need different solutions and products for that market,” he said.

Gill said demonetisation has brought good tidings for the company in India.

“Our ePoS transactions have jumped 22 per cent since November 8 last year, with more people coming into the banking system, particularly unbanked population. This is fuelling growth,” he said.

ATM transactions, he said, have jumped 26 per cent in volume terms and 83 per cent in value terms since the demonetisation announcement.

Asked if demonetisation signalled the beginning of the end for the ATM industry in India, Gill said that India was a strategic market for Diebold and that there was enough room for growth.

“Five years down the line, demand for new ATMs may itself not be there. But there will be a big replacement market to cater to,” Gill said.

It will be a long time before cash disappears from the Indian scene.

In the coming days, Diebold Nixdorf will also look to manufacture ePoS machines under the ‘Make in India’ programme, Gill said.

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