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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Future Outlook And Projections In<br />
<strong>India</strong> Payment <strong>Service</strong>s <strong>Market</strong><br />
• The rapid penetration of smartphones along with widespread of <strong>in</strong>ternet<br />
connectivity on mobiles devices has created a positive impact on the<br />
country’s payment services market. Digital payment services provided by<br />
non-bank<strong>in</strong>g <strong>in</strong>stitutions and the rise of the f<strong>in</strong>tech sector, consumer<br />
expectations of one-touch payments, and progress <strong>in</strong> regulatory<br />
governance and tax breaks, will altogether shape up the <strong>India</strong>’s payments<br />
landscape <strong>in</strong> favor of digital solutions. <strong>India</strong> payment services market is<br />
expected to generate a transaction volume of ~ million and a transaction<br />
value of INR ~ trillion by the FY’2023E. Ow<strong>in</strong>g to a new generation of<br />
digital payment services, open<strong>in</strong>g up new opportunities for a relatively<br />
high proportion of "unbanked" to make purchases onl<strong>in</strong>e, the volume of<br />
transaction happen<strong>in</strong>g through <strong>in</strong> digital landscape would change<br />
drastically. The growth of e-commerce <strong>in</strong> <strong>India</strong> coupled with the country's<br />
immense potential provides lucrative opportunities for retailers and<br />
merchants who can support <strong>India</strong>'s digital payment methods.
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