M-Wallet Market in India,India M-Wallet Industry Size,M-Wallet Companies in India,M-Wallet Service Providers in India : Ken Research
The rapid penetration of smartphones along with widespread of internet connectivity on mobiles devices has created a positive impact on the country’s payment services market.
The rapid penetration of smartphones along with widespread of internet connectivity on mobiles devices has created a positive impact on the country’s payment services market.
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<strong>India</strong> Payment <strong>Service</strong>s <strong>Market</strong><br />
Segmentation<br />
• By Desktop and Mobile Payments<br />
• Desktop payments were witnessed to dom<strong>in</strong>ate <strong>India</strong> payment services<br />
market with a volume share of ~% <strong>in</strong> FY’2018. Increas<strong>in</strong>g adoption of<br />
digital transactions post demonetization coupled with affordable desktops<br />
and laptops for bus<strong>in</strong>ess purpose has thrived the segments growth. On the<br />
other hand, mobile payments were observed to capture the rema<strong>in</strong><strong>in</strong>g<br />
volume share of ~% <strong>in</strong> <strong>India</strong> payment services market <strong>in</strong> FY’2018.<br />
• By Type of <strong>Industry</strong><br />
• Digital transactions towards f<strong>in</strong>ancial services such as <strong>in</strong>ter or <strong>in</strong>tra<br />
transfer of funds, person-to-person funds, and merchant payments for<br />
small transaction value dom<strong>in</strong>ated <strong>India</strong> payments market with a volume<br />
share of ~% <strong>in</strong> FY’2018. The ease of conduct<strong>in</strong>g f<strong>in</strong>ancial transactions<br />
through digital means is one of the major driv<strong>in</strong>g forces beh<strong>in</strong>d the<br />
segment’s growth. The segment followed with a collective volume share of<br />
~% <strong>in</strong> <strong>India</strong> payment services market <strong>in</strong> FY’2018. Other services such as<br />
hous<strong>in</strong>g rent, education, purchases of luxuries such as jewelries, cars and<br />
rest captured the rema<strong>in</strong><strong>in</strong>g volume share of ~% <strong>in</strong> FY’2018.
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