India Third Party Payment Market is Transforming with the Rising Penetration of Digital Methods and Expecting Consolidation to Emerge Clear Leaders in the Segment: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The report titled “India Payment Services Market Outlook to 2023 – By Online Payments, M-PoS, IMPS, AePS, USSD-BHIM Transactions, UPI, M-Wallet, PoS Terminal, Payment Gateways, CUG Cards and Payment Security Segment” by Ken Research suggested a growth at a noteworthy CAGR of 17.6% in terms of transaction value and 24.2% in terms of transaction volume in India payment services market in the upcoming years till the year ending 2023E. Digital wallets launched by banks include Pockets (ICICI Bank), Lime (Axis Bank), E-Buddy (SBI Bank), PayZapp (HDFC bank) and others. Banks in India have started to shift from customer experience to customer engagement since digital channels have become a better way to reach out to customers. The ability to personalize communications, proactively respond to events and queries, and preventing fraudulent activities are some of the key factors in order to improve customer loyalty and retention. As a response to this trend, banks and other financial institutions have launched digital wallets – mobile based applications, thus bringing competition through their new digital payment offerings to the already established M-wallet service providers including Paytm, Mobikwik, Oxigen wallet, Freecharge and others. M-wallet services in India are gradually replacing physical cash transactions into digital cash transactions, as consumers are increasingly turning away from cash and card. The government’s demonetization move in November 2016 acted out as a major game changer for m-wallet companies as it led to an enormous cash-crunch in the country. Majority of the ATM’s in India were frozen out of cash, thus forcing customers to switch to digital M-wallets for small value day-to-day transactions. Originally introduced as an E-commerce payment tool, M-wallets became popular after demonetization in India, as consumers started to extensively use it for daily transactions at supermarkets, grocery stores, street vendors, fuel stations and for cab rides. Launch of payment banks and mainstream application of UPI also transformed the way individuals pay their bills. Products Covered: Payment Services Market by Desktop Payments and Mobile Payments By Type of Industry Financial Services Retail Online Travel and others India M-wallet Market By transaction type Semi-Closed Loop Open Loop By End-User Consumer Enterprise India Payment Gateway Market By End-User Large Enterprises SMEs By Type of Payment Modes Net Banking Debit Cards Credit Cards and Others, By Type of Transactions E-commerce Financial Services Utility Bills and Other Online Services India PoS Terminal Market By Number of Terminals Active Terminals and Inactive Terminals, By Metro and Non-Metro Cities, By End-User Industry Large Enterprises, SMEs Micro Merchants India mPoS Market By Number of Terminals Inactive Terminals and Active Terminals By Type of Distribution Channel Retail Channel Direct Sales Companies Covered: M-Wallet Companies Paytm, Mobikwik, Freecharge, Oxigen, Telecom Operators Jio Money, Airtel Money, Idea Money, SBI Buddy and ICICI Pockets and ITZ Cash, Citrus Pay, PhonePay and other bank wallets Payment Gateway Companies Billdesk, Ingenico, PayU and Others (CC Avenue, ATOM, RazorPay, PayPal, Instamojo, VPL and MPL); PoS Terminal Companies Ingenico ePayments, Verifone India, AGS Transact, PineLabs, PAX Technologies, Ezetap and Itzcash; mPoS Companies Ezetap, M-Swipe, Paynear, Mosambee, AGS Transact and Others (Bijlipay and Visiontek). For more information on the research report, refer to below link: https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/india-payment-services-market-research-forecast-2023-/154993-93.html Related Reports https://www.kenresearch.com/banking-financial-services-and-insurance/banking/india-atm-management-services-market/153175-93.html https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/india-domestic-remittance-market-research-report/474-93.html Contact Us: Ken Research Ankur Gupta, Head Marketing and communications sales@kenresearch.com +91 9015378249 Post Views: 4 Tags: Active PoS Terminals India, Demonetization in India, Future Growth India Payment Services, Future of MPoS terminals in India, Government Regulations Payment Services, Growth of Payment Gateway India, India MPoS Companies, India mPoS Industry, India PoS Terminal Device Installations, India PoS Terminal Future, India PoS Terminal Industry Size, India PoS Terminal Market, Major Players PoS Terminal India, Major PoS Terminal End Users in India, MPoS Device Installations in India, mPOS Market India, MPoS Market Size India, Payment Gateway Service Provides India, Payment Gateways Business Model India, Payment Services in India, PoS Terminal Growth Drivers India, Regulatory Framework India Payment Services, Trends India PoS Terminal