The report provides a comprehensive analysis of payment services , m-wallet, payment gateway, mPOS, POS Terminals and Payment Security market in India. The report covers the overall competitive landscape; government role and regulations, growth drivers, trends and developments. The report concludes with market projection for future for every single market described above highlighting the major opportunities and cautions for overall India payment services market.
India payment services market which has traditionally been dominated by cash witnessed advancement towards digital transactions both in terms of value and volume during demonetization phase in India. The total number of ATMs (including onsite and offsite) was witnessed to increase from ~ as of 31st March 2013 to ~ as of 31st March 2018, thus displaying a five year CAGR of ~% during the review period.
India is a developing country with the second largest population behind China and until recently its payment framework has straggled far behind the rest of the developed world whereas, it is transferable fast with the effective payment tasks over the last recent years and will continue for so long with the more development over the decades.
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Digital payments are those payments which are done through digital modes. Through digital payments, you can send and receive money easily. It is also known as electronic payment. In India, digital payments had increased rapidly after demonetization.
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