India M-Commerce Payment Market size was valued US$ XX Bn. in 2019 and the total revenue is expected to grow at 22.3% through 2020 to 2027, reaching nearly US$ XX Bn.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
M-commerce (mobile commerce or mobile payment) is any payment transaction involving the purchase of goods or services that is completed with a wireless device, like a cellular phone, personal computer (wireless), or personal digital assistant. Mobile payment is a new developing way of paying by using a mobile terminal to start transaction over a mobile network.
The report covers all the trends and technologies playing a major role in the growth of the India M-Commerce Payment Market over the forecast period. It highlights the drivers, restraints, and opportunities expected to influence market growth during 2020-2027. Rapid growth is on the horizon for India’s market for electronic commerce. There is significant room for development from basic access to the internet to innovation in its online payment methods but both the state and e-commerce companies are ramping up investment in the industry’s underlying infrastructure. E-Wallets are also gaining popularity in-store, growing at a rate of 39% each year. Already familiar with using smartphones for social networking, Indian customers are using their trusted mobile devices to pay for goods both offline and online.
Digital Wallets in India:
India M-Commerce Payment Market
Major fast-growing payment method in India is digital wallets, which are currently used for a quarter of all E-commerce payments. Digital wallet use is expected to grow at a compound annual growth rate of nearly 80% to 2021, at which point it will be the primary online payment method, taking a 34.8% share of sales. There are a plethora of digital wallet options available in India already, with the most popular with Airtel Money and PayPal.
Increased M-commerce sales will be supported by good smartphone penetration, which, at 75%, places it on a par with Singapore. This, however, means that a quarter of India’s population does not own a smartphone, proposing further opportunities for growth.
The report covers the segments in the m-commerce payment market such as transactions, payment modes, and end-user. By payment mode, Near Field Communication (NFC) is expected to account for the largest XX% market share by 2027. Renewed interest in NFC is anticipated to provide lucrative opportunities for the Indian market in upcoming years. Such as, ICICI Bank launches NFC-based contactless mobile pay solution in March 2016. Digital wallets using near field communication (NFC) for contactless card machines comprise Samsung Pay, Apple Pay, and Google Pay and this is consequently set fuel the M-commerce market in India.
Smartphone User in India:
India M-Commerce Payment Market2
India A World Leader in App-Based Payment Methods
M-commerce is set to become the primary payment method for online shopping in India. It is already used for 46% of transactions. The high growth potential of the Indian e-commerce market is based on existing smartphone penetration, which is low, with only 22 % of the population owning such a device.
The objective of the report is to present a comprehensive analysis of the India M-Commerce Payment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding India M-Commerce Payment Market dynamics, structure by analyzing the market segments and projects the India M-Commerce Payment Market size. Clear representation of competitive analysis of key players by application, price, financial position, Product portfolio, growth strategies, and country presence in the India M-Commerce Payment Market make the report investor’s guide.
Scope of the India M-Commerce Payment Market
India M-Commerce Payment Market, by Transactions
• Other M-Commerce Services
India M-Commerce Payment Market, by Payment Modes
• Near Field Communication (NFC)
• Premium SMS
• Wireless application protocol (WAP)
• Direct Carrier Billing
India M-Commerce Payment Market, by End User
• Smart device users
• Feature phone users
Key players operating in India M-Commerce Payment Market
• BHIM UPI
• Google Tez
• PayPal Holdings
• Orange S.A.
• Vodacom Group Limited
• MasterCard Incorporated
• Bharti Airtel Limited
• MTN Group Limited
• Safaricom Limited, Inc.
• Econet Wireless Zimbabwe Limited
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