M-Wallet Market in India,India M-Wallet Industry Size,M-Wallet Companies in India,M-Wallet Service Providers in India : Ken Research

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How m-wallet market of india is positioned? • A mobile wallet is digitally equivalent of physical wallet, where a consumer can store money, make payments or transfer money to other wallet accounts under the same company. M-wallet transactions in India were observed to grow at a massive five year CAGR of ~% over the review period FY’2013-FY’2018. Compared to other payment modes in India, M-wallet service providers have emerged as the most significant contributor in promoting electronic payments in the country owing to the increasing usage of internet and smartphone users in the country. • • Some of the major companies having semi-closed wallets include Paytm, Mobikwik, Oxigen wallet and others whereas, closed wallet type companies include SBI E-Buddy, HDFC PayZapp and telecom operators such as Airtel Money, Jio Money, Vodafone M-Pesa and others. Over the forecast period, mobile-wallet transactions are further expected to increase to ~ million by the fiscal year end-ing 2023E and on the other hand, India m-wallet transaction size is further anticipated to increase to INR ~ billion in terms of transaction value by the fiscal year ending 2023E; thus displaying a five year CAGR of ~% and ~% respectively.
What Is The Role Of Payment Gateweay Market In India • Payment gateways play a significant role in E-commerce transactions by authorizing the payment between a merchant and a consumer. Some of the leading payment gateway companies in India include PayPal, Billdesk and others. Demanding factors from Indian millennials such as faster check out and better convenience has been driving the growth of digital payments in India. As a result, it has increased the role of payment gateway providers in the digital payments landscape. Increasing cyber-crimes or threats have forced companies to build platforms with advance security features for early fraud detection and minimizing the collateral damage. The payment gateway market in India was evaluated at INR ~ million in terms of transaction value in the FY’2018. • Large enterprises were witnessed to dominate the Indian payment gateway market with a revenue share of ~% in terms of transaction volume in FY’2018. These enterprises have a higher penetration in the digital payment ecosystem in comparison with the small and medium scale enterprises, thus leaving them with a limited volume share of ~% in the FY’2018. • Due to high influence of open source payment gateway codes coupled with increasing banking platforms has forced the existing payment gateway companies in India to think upon differentiating their services and provide a value-add to their clients. In near future, the payment gateway market is expected to generate a transaction value of INR ~ million by the FY’2023E. Digital channels are the pathway through which a bank can interact with its customers, therefore developing digital channels as customer engagement will play a critical role.
Page 1 and 2: India Payment Services Market Outlo
Page 3: India Payment Services Market Segme
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M-Wallet Market in India,India M-Wallet Industry Size,M-Wallet Companies in India,M-Wallet Service Providers in India : Ken Research

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