A group firm of Reliance Industries and French IT services major Atos are among the shortlisted service providers to public sector banks wanting to deploy at least two million point of sales (POS) terminals-—debit and credit card swipe machines with merchantsboosting electronic payment in smaller towns within 24 months. India has more than 314 million debit cards but less than 10% of them are used for transactions at shops, and that too mostly in top ten metros.

IDBI is managing a reverse auction process to identity service providers who would manage the swipe machines, after the government pushed the banks to hasten electronic payment in a consumption driven economy, riding heavily on the Middle India story. About 28 public sector banks would outsource their swipe machines to four service providers, dividing the market into four circles with each deploying up to seven lakh POS terminals in two years.