India Payment Services Industry Outlook to 2019
– Surging Investments in MPOS, mWallet and NFC to Drive Growth provides a comprehensive analysis of the
various aspects such as market size of the payment industry, mobile wallets,
mobile banking and MPOS payments along with online payments and payment
gateways. The report also covers the market shares of major companies involved
in different segments in the payment industry in India.
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| India Payment Market |
The
payment market is majorly driven by transactions through mobile point of sale
terminals and mobile banking, in FY’2014 registered transactions worth of INR ~
million. There is a growth recorded of 147.6% from the revenues generated by
the industry as compared to the previous year, where the total transactions were
INR ~ million. Each segment in the payment market is subject to a gamut of
different factors such as number of units sold, reach amongst customers and
merchant acquisitions that play an important role in determining their
respective revenues.
The
major segments in the payment industry in India include, MPOS, mobile banking,
mobile wallets and online bill payments. In FY’2014, the largest share of
market was held by mobile banking services at INR ~ million and was followed by
payments made by using mobile point of sale devices. Mobile wallets and online
bill payments comprise only of a small percentage share in the market.
Moreover,
each segment in the payment industry in India comprises of a different set of
players. For example, in mobile banking sector, financial institutions such as
banks operate independently by using an application developed by a software
company. However, in mobile POS market, there is a tie-up between the financial
institution and the gateway to route transactions. Mobile wallets have
witnessed collaborations between telecom companies and banks to provide
pre-paid wallet services to customers. The largest market share in mobile
banking market in terms of value of transactions was held by ICICI at ~%,
whereas, by volume of transactions it was led by the State bank of India at ~%
in FY’2014.
The
market for payments in India is changing rapidly. Technological advancements
and a high rate of adoption of mobile devices have enabled the growth of
banking and payment services. Also, the increase in internet penetration across
both urban and rural sectors has provided a platform for payment and software
companies to provide solutions which can amplify the financial services.
Competitive pressures in this sector have been significantly changing the
market with more number of startups providing cost effective services to
customers. India payment market is expected to grow at a CAGR of ~% from
FY’2015 to FY’2019 and has been estimated to out-grow INR ~ million by FY’2019.
Key Topics
Covered in the Report:
·
The market size
of the India m-payment industry.
·
The market size
of the m-wallet market.
·
The market size
of the m-banking market.
·
The market size
of the m-POS market.
·
The market size
of the bill payments market.
·
The market size
of the online bill payments market.
·
The market size
of the payment gateway market.
·
Market
segmentation of the sectors on the basis of value and volume of transaction,
more of payment and payment channels.
·
Market
segmentation of the m-POS market on the basis of revenues sources.
·
Trends and
Development in the India payment market.
·
Competitive
landscape and detailed company profiles of the major financial institutions and
companies involved in the payment industry in India.
·
Future outlook
and projections of the India payment market
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-11-47017199
