India Payment Services Market Outlook to 2026

KR1081
Pages: 141
August 2021
Author(s): Anurag Jha, Mayukh Sen
Total Views:1585
Region : Asia
Ken Research
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The report titled “India Payment Services Market Outlook to 2026”, provides a comprehensive analysis of the payment services, payment gateway, m-wallet, POS Terminals, credit and debit card, payment security and prepaid instruments market in India.

The report focuses on the overall competitive landscape; government role and regulations, growth drivers, COVID impact, trends and developments. Furthermore the report emphasizes on payment service market size, India payment service market segmentation by Payment Card Usage (Cash Payments and Cash Withdrawals), by Number of Outstanding Debit Cards (PSU and Private Banks), by Number of Outstanding Credit Cards (PSU and Private Banks), by Modes of Payment (RTGS, Credit Transfers, Debit Transfers, Direct Debits and Card Payments); credit and debit card coverage segmentation by Number of Transaction (PoS and ATM), by Transactional Value (PoS and ATM), by Number of Outstanding Cards; IMPS segmentation by Type of Institution (Small Finance Bank, PSU, Private and Payments Bank, Public and Private Institutions, Regional Rural Bank and Co-operative Banks); AePS segmentation by Types of Banks - Number of AePS Operator (Mainline Commercial Banks, Regional Rural Banks, Co-operative Banks, Payment Banks and Small Finance Banks); PoS Terminal segmentation by Number of Terminals (Active and Inactive Terminals), by Metro and Non-metro cities, by End User Industry (Large Enterprises, SME’s and Micro Merchants) and by Metro and Non-metro cities.

The report also covers a comprehensive overview of IMPS, AePS, USSD-BHIM, and UPI ecosystem along with insights on CUG cards, open loop prepaid cards, NCMC cards, RuPay cards, omni-channel processing market, bank reconciliation software market, IOT spending, RBI guidelines, cloud and security outsourcing in payments technology, competition scenario and competitive landscape of m-wallet players, market share of m-wallet companies, OMC digital space and future of digital payments in India.

The report concludes with future market projection of all the markets described above highlighting the major opportunities and cautions for the overall India payment services market.

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 advent of unprecedented situation of COVID-19 showcased a shift towards adoption of digital payment medium from traditional medium of physical transactions. The total market size for the India Payment service market has risen from INR XX trillion in FY’16 to INR XX in FY21, during the review period. Regulatory authorities such as the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) play a major role in establishing guidelines for effective working within India’s payments landscape. In India, merchant payments were observed to be the central aspect of all payment services for large enterprises as well as MSMEs, which are increasingly becoming integrated with PoS devices. In addition to this, emergence of consumer mobile wallets in India, and UPI, especially for retail transactions has helped consumers with person-to-person funds transfer, therefore facilitating small value transactions. Surge in growth of electronic payments in India, along with rising E-commerce and M-commerce transactions are further expected to give a boost to numerous entities including payment gateway service providers and payment aggregators that facilitate online payments in the country. Besides all these advancements, cash still dominates the entire payment landscape in India and is further expected to hold a majority share in future.

India Credit and Debit Card Coverage

Over the years, money has transformed from coins to physical cash and is now available in electronic / digital form or plastic cards. Plastic cards for instance, ATM cards, debit and credit cards are used by customers as an electronic payment tool, thereby helping in clearing and settling the payment process. Increasing penetration of credit cards in metro areas coupled with rising usage of RuPay cards in tier 2 and tier 3 cities are some of the driving forces in India consumer payments landscape. In terms of total number of outstanding cards, credit cards were observed to grow at a five year CAGR of XX% whereas; debit cards grew at a five year CAGR of XX% during the review period FY’2016-FY’2021.

India IMPS (Immediate Payment Service) Consumer Payment Landscape

IMPS in India has become pioneer of instant money transfer, when compared to other digital payment modes. IMPS was witnessed to gradually gain traction as almost all major banks have extended their services, thereby enabling bank account holders to access accounts and transfer funds using mobile phones. In order to fuel the usage of IMPS, the National Payments Corporation of India (NPCI) launched new apps and services such as BHIM app and UPI payments. As of 31^st March 2016, IMPS transactions were evaluated at XX million which were witnessed to increase to XX million transactions annually as of 31^st March 2021, thus growing at a five year CAGR of XX% during the review period FY’2015-FY’2018.

India AePS (Aadhaar Enabled Payment System) Consumer Payment Landscape

AePS is a bank led model which allows online interoperable transaction at PoS terminals through the business correspondent of any bank. Implementation of AePS allowed online financial transaction using the Adhaar card authentication, especially in the rural areas. Some of the basic banking transactions using AePS include balance enquiry, cash withdrawal, cash deposit and Adhaar to Adhaar funds transfer. As of 31^st March 2017, total approved AePS transactions were evaluated at XX million transactions which witnessed an increase to XX million transactions as of 31^st March 2021, thus growing at a four year CAGR of XX% during the review period FY’2016-FY’2018.

India Bharat Interface for Money (Ussd-bhim) Consumer Payment Landscape

BHIM is a payments app launched by the NPCI which helps in making simple, easy and quick transactions using UPI business model which is an upgraded version of IMPS, thereby facilitating transfer of funds 24x7. BHIM app basically allows users to send as well as request money, scan & pay, generate QR code and check account balance. The NPCI has also added fingerprint scan and Aadhaar based payments in BHIM app. As of 31^st March 2017, USSD BHIM transactions were recorded at XX million which were observed to increase to XX million transactions as of 31^st March 2021, thus displaying a massive growth rate of XX.

India UPI (Unified Payments Interface) Consumer Payment Landscape

UPI is digital payment system that allows multiple bank accounts into a single mobile application, thereby merging several banking features and merchant payments. In India, along with account holders, banks and financial institutions also make use of NPCI’s UPI platform to offer direct digital payments from accounts without sharing account details by creating a unique UPI ID or VPA (Virtual Payment Address). UPI has seen a humongous surge in recent years, owing to the sudden increase in adoption of QR based UPI transactions in retail spaces. In terms of transaction volume, UPI transactions were witnessed to increase from XX million in FY’2017 to XX million in FY’2021 whereas, in terms of transaction value, UPI transaction size went from INR XX billion in FY’2017 to INR XX billion in FY’2021; therefore showcasing extra-ordinary five year CAGR of XX% and XX% respectively, during the assessment period

India M-Wallet Market

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 XX% over the review period FY’2015-FY’2021. 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. Social gifting is on the verge of becoming a popular trend among young tech-savvy customer base which could drive money transfer through mobile wallets, especially on festive occasions in near future. Over the forecast period, mobile-wallet transaction volume are further expected to increase to XX million by the fiscal year ending 2026 and on the other hand, India m-wallet transaction size is further anticipated to increase to INR XX billion in terms of transaction value by the fiscal year ending 2026; thus displaying a five year CAGR of XX% and XX% respectively.

India PoS (Point of sale) Terminal Market

PoS terminals were launched as a computerized replacement of cash register where customers can make an online transaction with the help of their debit or credit cards. Parties involved in a transaction processing include the issuer bank, the acquirer bank, the payment gateway and lastly, the PoS device company. India PoS terminal market was heavily dependent up on the card acceptance infrastructure consisting of ATMs and PoS terminal devices. India PoS terminal market size was evaluated at XX thousand device installations in FY’2016, which witnessed an increase to XX thousand device installations in FY’2021, thus displaying a 5 year CAGR of XX% over the review period. In terms of number of device installations, metro cities were witnessed to dominate India PoS terminal market majorly due to higher usage and penetration of debit and credit cards in these cities whereas, non-metro cities were observed to catch up by spreading awareness regarding PoS devices enabled with Adhaar enabled Payment System (AePS) and Micro ATMs in rural India. Large retail formats, such as Big Bazaar, Shoppers Stop and other malls have seen increase in installation of traditional PoS systems that work on GPRS technology. Introduction of QR code bases system and NFC payment technology is further expected to give a boost to the country’s PoS terminal market over long term.

India Payment Services Market Future Outlook and Projections

The India Payment Services Market is expected to grow at a CAGR of XX% between FY’21 and FY’26, reaching a market size of INR XX Trillions. It is expected that the growth in payment services market would be exacerbated by the rapid adoption to digital payment ecosystem. COVID-19 has further accelerated the shift to digital payment modes. One of the key requirements for long-term growth and a faster adoption of Fintech solutions at last-mile touch points is the customers trust over digital payment modes and to overcome hesitance among consumer about the security of such platforms, while handling their transactions.

India PoS Terminals Market Future Outlook and Projections

Over the forecast period FY’21-FY’26, total number of cumulative PoS terminal device installation is estimated to expand at a CAGR of XX%, standing XX thousand device installation by the end of FY’26. Increased penetration of debit and credit cards, growing E-commerce sector, rising disposable income coupled with the government’s initiative towards promoting a cashless economy will provide a beneficial opportunity for growth of PoS devices in India in future.

Key Segments Covered in India Payment Services Market

India Payment Services Market

By Payment Card Usage (Cash Payments and Cash Withdrawals)
By Number of Outstanding Debit Cards (PSU and Private Banks)
By Number of Outstanding Debit Cards: Market Share of Banks (State Bank of India, Bank of Baroda, Paytm Payments Bank, Punjab National Bank, Union Bank of India, Bank of India, Canara Bank, ICICI Bank and others)
By Number of Outstanding Credit Cards (PSU and Private Banks)
By Number of Outstanding Credit Cards: Market Share of Banks (HDFC Bank, State Bank of India, ICICI Bank, Axis Bank, Ratnakar Bank, Citi Bank, Kotak Mahindra Bank, American Express and others)
By Modes of Payment (RTGS, Credit Transfers, Debit Transfers, Direct Debits and Card Payments)

Credit and Debit Card Coverage

By Number of Credit Card Transactions (PoS and ATM)
By Credit Card Transaction Value (PoS and ATM)
By Number of Debit Card Transactions (PoS and ATM)
By Debit Card Transaction Value (PoS and ATM)
By Number of ATMs and PoS Terminals
By Number of Outstanding Cards (Credit and Debit Cards)

Immediate Payment Service (IMPS) Consumer Payment Landscape

By Type of Institution (Small Finance Bank, PSU, Private and Payments Bank, Public and Private Institutions, Regional Rural Bank and Co-operative Banks)

Aadhaar Enabled Payment System (AePS) Consumer Payment Landscape

By Types of Banks: Number of AePS Operator (Mainline Commercial Banks, Regional Rural Banks, Co-operative Banks, Payment Banks and Small Finance Banks)

India PoS Terminal Market

By Number of Terminals (Active and Inactive Terminals)
By Metro and Non-metro cities
By End User Industry (Large Enterprises, SME’s and Micro Merchants)
By Metro and Non-metro cities

Key Target Audience

Banks and Financial Institutions
Cash Reconciliation Companies
Payment Aggregators
Payment Network Companies
Payment Interface Companies
M-Wallet Companies
Payment Gateway Companies
PoS Terminal Companies
M-PoS Terminal Companies

Time Period Captured in the Report:

Historical Period: FY’15-FY’21
Forecast Period: FY’21-FY’26E

Payment Service Companies in India:

M-Wallet Companies

Paytm
Mobikwik
Freecharge
Oxigen
Telecom Operators (Jio Money, Airtel Money, Idea Money, Vodafone M-Pesa)
Others (SBI Buddy, PayZapp by HDFC, Pockets by ICICI and other bank wallets)

Payment Gateway Companies

PayU
Paypal
Razorpay
Others (CC Avenue and Citruspay)

PoS Terminal Companies

Ingenico
Verifone India
PineLabs
PAX Technologies
Ezetap
Itzcash

M-PoS Companies

M-Swipe
Payswiff
Mosambee
Bijlipay

Key Topics Covered in the Report

India Payment Services Market
Regulatory Framework in India Payment Services Market
India Payment Services Market Segmentation
India Payment Services Market Future Outlook and Projections
Credit and Debit Card Coverage
Immediate Payment Service (IMPS) Consumer Payment Landscape
Aadhaar Enabled Payment System (AePS) Consumer Payment Landscape
Unstructured Supplementary Service Data - Bharat Interface for Money (USSD-BHIM) Consumer Payment Landscape
Unified Payments Interface (UPI) Consumer Payment Landscape
Cross Comparison of Different Payment Modes (IMPS, AePS, USSD-BHIM and UPI) in India Payment Services Market
India Bill Payment Market
India Omni-Channel Payments Processing Market
India Bank Reconciliation Software Market
India Digital Payment Market
India Cloud Security Services Market
India Payment Security Services Market
India M-Wallet Market
Market Share of M-Wallet Players in India
Competitive Landscape of India M-Wallet Market
Trends and Developments in India M-Wallet Market
India Payment Gateway Market
India Point of Sale (PoS) Terminal Market
India Point of Sale (PoS) Terminal Competitive Landscape
India Point of Sale (PoS) Terminal Market Segmentation
India Point of Sale (PoS) Terminal Market Future Outlook and Projections
India m-PoS Market
CUG Cards / Prepaid Closed Loop Cards
Cloud / Security Outsourcing in Payments Technology
Government Regulations
Assessment of COVID Impact on Contactless Transactions and POS Terminals
Coverage on OMC Digital Space

Scope

1. Executive Summary

1.1. Executive Summary- India Payment Service Market

1.2. Executive Summary- Credit and Debit Card Coverage

1.3. Executive Summary- IMPS (Immediate Payment Service) Consumer Payment Landscape

1.4. Executive Summary- AePS (Aadhaar Enabled Payment System) Consumer Payment Landscape

1.5. Executive Summary- Unstructured Supplementary Service Data – Bharat Interface for Money (Ussd-bhim) Consumer Payment Landscape

1.6. Executive Summary- UPI (Unified Payments Interface) Consumer Payment Landscape

1.7. Executive Summary- India M-Wallet Market

1.8. Executive Summary- India PoS (Point of sale) Terminal Market

2. Research Methodology

2.1. Market Size and Modeling

2.2. Definitions and Approach- India Payment Services Market

2.3. Definitions and Approach- India PoS Market

2.4. Definitions and Approach- India M-Wallet Market

2.5. Definitions and Approach- India Payment Gateway Market

2.6. Other Definitions

3. India Payment Services Market

3.1. Introduction to India Payment Services Market

3.2. Snapshot on India Bill Payment Market

3.3. Private Banks V/S Public Sector Banks

3.4. Major Cards in E-commerce Segment

3.5. Growth of RuPay Cards in India

3.6. Snapshot on India Omni-Channel Payments Processing Market

3.7. Snapshot on India Bank Reconciliation Software Market

3.8. India Payments Services Market Size, FY’2016-FY’2021

3.9. India Payment Services Market Segmentation, FY’2018-FY’2021

3.10. India Payment Services Market Future Outlook and Projections, FY’2021-FY’2026E

4. Regulatory Framework in India Payment Services Market

4.1. Role of Government in India Payment Services Market

4.2. Overview of Payments and Receipts in Government Ministries / Departments

4.3 Role of Reserve Bank of India (RBI)

4.4. Role of National Payments Corporation of India (NPCI)

4.5. Evolving Outlook Of The Public Agencies

4.6. Overview of the KYC initiative

4.7. Localized Data Storage of Transactions and its Impact on Various Players

5. Credit and Debit Card Coverage

5.1. Credit Cards, FY’2016-FY’2021

5.2. Debit Cards, FY’2016-FY’2021

5.3. Proportion of Active Credit and Debit Cards in India, FY’2021

5.4. Number of ATMs and POS Terminals, FY’2013-FY’2021

5.5. Number of Outstanding Cards in India Payment Services Market, FY’2015-FY’2021

5.6. Cross Comparison of Different Payment Modes in India Payment Services Market

5.7. Value added services

6. Immediate Payment Service (IMPS) Consumer Payment Landscape

6.1. IMPS Transactions Overview, FY’14-FY21

6.2. Entities Offering Imps

6.3. Working Model of IMPS Payment Landscape in India Payment Services Market

6.4. Popular Uses of IMPS

6.5. IMPS Charges

7. Adhaar Enabled Payment System (AePS) Consumer Payment Landscape

7.1. Advantages of AePS

7.2. AePS Transactions Overview, 2016-2021

7.3. Entities Offering AePS, FY’2021

7.4. Working Model of AePS Landscape in India

8. Unstructured Supplementary Service Data – Bharat Interface for Money (USSD-BHIM) Consumer Payment Landscape

8.1. USSD-BHIM Transactions Overview, FY’17 – FY’21

8.2. Number of Operators / Downloads

8.3. Government Initiative to Promote USSD-BHIM in India

9. Unified Payments Interface (UPI) Consumer Payment Landscape

9.1. Major Government Initiatives aimed to increase UPI Adoption

9.2. Number of UPI Transactions, FY’17-FY’21

9.3. Number of UPI Operators / Downloads, FY’16-FY’21

9.4. Working Model of UPI Landscape in India Payment Services Market

9.5. Recent Trends in UPI Adoption

10. India M-Wallet Market

10.1. Introduction to India M-Wallet Market

10.2. Value Chain Analysis in India M-Wallet Market

10.3. Revenue Generation

10.4. Operations Involved In Using M-Wallet Services

10.5. India M-Wallet Market Size, FY’15-FY’21

10.6. Trends and Developments in India M-Wallets Market

10.7. Government Regulations in India M-Wallets Market

10.8. Competitive Landscape of Major Players Operating in India M-Wallets Market

10.9. Competition Scenario

10.10. Market Share of Major Players Operating in India M-Wallet Market

10.11. Company Profiles of Major Players Operating in India M-Wallet Market

10.12. Telecom operators (Jio Money, Airtel Money, Idea Money, M-Pesa) Operating in Indian Mobile Wallet Market

11. India Point of Sale (PoS) Terminal Market

11.1. Introduction to India Point of Sale (PoS) Terminal Market

11.2. Value Chain Analysis in India PoS Terminal Market

11.3. India PoS Terminal Market Size, FY’2016-FY’2021

11.4. India PoS Terminal Market Segmentation, FY’2021

11.5. Comparative Landscape in India PoS Terminal Market

11.6. India PoS Terminals Market Future Outlook and Projections, FY’2018-FY’2026E

12. Prepaid Instruments

12.1. Closed User Group (“CUG”) Cards

12.2. NCMC Cards

12.3. Open Loop Prepaid Cards

12.4. National Electronic Toll Collection (NETC) program-FasTag

13. Cloud / Security Outsourcing in Payments Technology

13.1. Global IOT Security Spending

13.2. Cyber Threats in India

13.3. Regulatory Landscape of Cyber Security Framework in India

13.4. RBI Cyber Security Guidelines for Banks and Financial Institutions

13.5. India Cloud Security Services Market

13.6. India Payment Security Services Market

14. Government Regulations

14.1. Payments Infrastructure Development Fund

14.2. Digital Incentives as mentioned in the budget

14.3. The Future of RUpay Interchange

15. COVID Impact

15.1. Assessment of COVID Impact on Contactless transactions and POS terminals

16. Coverage on OMC Digital Space

16.1. Introduction to the fuel retail sector in India

16.2. Market Snapshot of the OMC Space

16.3. Future of digital spend in petrol outlets

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Key Segments Covered in India Payment Services Market

India Payment Services Market

By Payment Card Usage (Cash Payments and Cash Withdrawals)
By Number of Outstanding Debit Cards (PSU and Private Banks)
By Number of Outstanding Debit Cards: Market Share of Banks (State Bank of India, Bank of Baroda, Paytm Payments Bank, Punjab National Bank, Union Bank of India, Bank of India, Canara Bank, ICICI Bank and others)
By Number of Outstanding Credit Cards (PSU and Private Banks)
By Number of Outstanding Credit Cards: Market Share of Banks (HDFC Bank, State Bank of India, ICICI Bank, Axis Bank, Ratnakar Bank, Citi Bank, Kotak Mahindra Bank, American Express and others)
By Modes of Payment (RTGS, Credit Transfers, Debit Transfers, Direct Debits and Card Payments)

Credit and Debit Card Coverage

By Number of Credit Card Transactions (PoS and ATM)
By Credit Card Transaction Value (PoS and ATM)
By Number of Debit Card Transactions (PoS and ATM)
By Debit Card Transaction Value (PoS and ATM)
By Number of ATMs and PoS Terminals
By Number of Outstanding Cards (Credit and Debit Cards)

Immediate Payment Service (IMPS) Consumer Payment Landscape

By Type of Institution (Small Finance Bank, PSU, Private and Payments Bank, Public and Private Institutions, Regional Rural Bank and Co-operative Banks)

Aadhaar Enabled Payment System (AePS) Consumer Payment Landscape

By Types of Banks: Number of AePS Operator (Mainline Commercial Banks, Regional Rural Banks, Co-operative Banks, Payment Banks and Small Finance Banks)

India PoS Terminal Market

By Number of Terminals (Active and Inactive Terminals)
By Metro and Non-metro cities
By End User Industry (Large Enterprises, SME’s and Micro Merchants)
By Metro and Non-metro cities

Key Target Audience

Banks and Financial Institutions
Cash Reconciliation Companies
Payment Aggregators
Payment Network Companies
Payment Interface Companies
M-Wallet Companies
Payment Gateway Companies
PoS Terminal Companies
M-PoS Terminal Companies

Time Period Captured in the Report:

Historical Period: FY’15-FY’21
Forecast Period: FY’21-FY’26E

Companies

Payment Service Companies in India:

M-Wallet Companies

Paytm
Mobikwik
Freecharge
Oxigen
Telecom Operators (Jio Money, Airtel Money, Idea Money, Vodafone M-Pesa)
Others (SBI Buddy, PayZapp by HDFC, Pockets by ICICI and other bank wallets)

Payment Gateway Companies

PayU
Paypal
Razorpay
Others (CC Avenue and Citruspay)

PoS Terminal Companies

Ingenico
Verifone India
PineLabs
PAX Technologies
Ezetap
Itzcash

M-PoS Companies

M-Swipe
Payswiff
Mosambee
Bijlipay

Company Profile

Company Profile Title

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The report concludes with future market projection of all the markets described above highlighting the major opportunities and cautions for the overall India payment services market.

India Payment Services Market

India Credit and Debit Card Coverage

India IMPS (Immediate Payment Service) Consumer Payment Landscape

India AePS (Aadhaar Enabled Payment System) Consumer Payment Landscape

India Bharat Interface for Money (Ussd-bhim) Consumer Payment Landscape

India UPI (Unified Payments Interface) Consumer Payment Landscape

India M-Wallet Market

India PoS (Point of sale) Terminal Market

India Payment Services Market Future Outlook and Projections

India PoS Terminals Market Future Outlook and Projections

Key Segments Covered in India Payment Services Market

India Payment Services Market

By Payment Card Usage (Cash Payments and Cash Withdrawals)
By Number of Outstanding Debit Cards (PSU and Private Banks)
By Number of Outstanding Debit Cards: Market Share of Banks (State Bank of India, Bank of Baroda, Paytm Payments Bank, Punjab National Bank, Union Bank of India, Bank of India, Canara Bank, ICICI Bank and others)
By Number of Outstanding Credit Cards (PSU and Private Banks)
By Number of Outstanding Credit Cards: Market Share of Banks (HDFC Bank, State Bank of India, ICICI Bank, Axis Bank, Ratnakar Bank, Citi Bank, Kotak Mahindra Bank, American Express and others)
By Modes of Payment (RTGS, Credit Transfers, Debit Transfers, Direct Debits and Card Payments)

Credit and Debit Card Coverage

By Number of Credit Card Transactions (PoS and ATM)
By Credit Card Transaction Value (PoS and ATM)
By Number of Debit Card Transactions (PoS and ATM)
By Debit Card Transaction Value (PoS and ATM)
By Number of ATMs and PoS Terminals
By Number of Outstanding Cards (Credit and Debit Cards)

Immediate Payment Service (IMPS) Consumer Payment Landscape

By Type of Institution (Small Finance Bank, PSU, Private and Payments Bank, Public and Private Institutions, Regional Rural Bank and Co-operative Banks)

Aadhaar Enabled Payment System (AePS) Consumer Payment Landscape

By Types of Banks: Number of AePS Operator (Mainline Commercial Banks, Regional Rural Banks, Co-operative Banks, Payment Banks and Small Finance Banks)

India PoS Terminal Market

By Number of Terminals (Active and Inactive Terminals)
By Metro and Non-metro cities
By End User Industry (Large Enterprises, SME’s and Micro Merchants)
By Metro and Non-metro cities

Key Target Audience

Banks and Financial Institutions
Cash Reconciliation Companies
Payment Aggregators
Payment Network Companies
Payment Interface Companies
M-Wallet Companies
Payment Gateway Companies
PoS Terminal Companies
M-PoS Terminal Companies

Time Period Captured in the Report:

Historical Period: FY’15-FY’21
Forecast Period: FY’21-FY’26E

Payment Service Companies in India:

M-Wallet Companies

Paytm
Mobikwik
Freecharge
Oxigen
Telecom Operators (Jio Money, Airtel Money, Idea Money, Vodafone M-Pesa)
Others (SBI Buddy, PayZapp by HDFC, Pockets by ICICI and other bank wallets)

Payment Gateway Companies

PayU
Paypal
Razorpay
Others (CC Avenue and Citruspay)

PoS Terminal Companies

Ingenico
Verifone India
PineLabs
PAX Technologies
Ezetap
Itzcash

M-PoS Companies

M-Swipe
Payswiff
Mosambee
Bijlipay

Key Topics Covered in the Report

India Payment Services Market
Regulatory Framework in India Payment Services Market
India Payment Services Market Segmentation
India Payment Services Market Future Outlook and Projections
Credit and Debit Card Coverage
Immediate Payment Service (IMPS) Consumer Payment Landscape
Aadhaar Enabled Payment System (AePS) Consumer Payment Landscape
Unstructured Supplementary Service Data - Bharat Interface for Money (USSD-BHIM) Consumer Payment Landscape
Unified Payments Interface (UPI) Consumer Payment Landscape
Cross Comparison of Different Payment Modes (IMPS, AePS, USSD-BHIM and UPI) in India Payment Services Market
India Bill Payment Market
India Omni-Channel Payments Processing Market
India Bank Reconciliation Software Market
India Digital Payment Market
India Cloud Security Services Market
India Payment Security Services Market
India M-Wallet Market
Market Share of M-Wallet Players in India
Competitive Landscape of India M-Wallet Market
Trends and Developments in India M-Wallet Market
India Payment Gateway Market
India Point of Sale (PoS) Terminal Market
India Point of Sale (PoS) Terminal Competitive Landscape
India Point of Sale (PoS) Terminal Market Segmentation
India Point of Sale (PoS) Terminal Market Future Outlook and Projections
India m-PoS Market
CUG Cards / Prepaid Closed Loop Cards
Cloud / Security Outsourcing in Payments Technology
Government Regulations
Assessment of COVID Impact on Contactless Transactions and POS Terminals
Coverage on OMC Digital Space