Digital Infrastructure in India, Cash Payment Transactions India, M-Wallet Service Providers in India, India PoS Terminal Market : Ken Research

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• India Payment Services Market Outlook To 2023 -
  Ken Research

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How india payment services market is positioned?

• 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. 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 Indias
  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 and
  mPoS terminal devices. 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.

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India PaymenServices Market Segmentationt

• By Desktop and Mobile Payments
• Desktop payments were witnessed to dominate India
  payment services market with a volume share of
  in FY2018. Increasing adoption of digital
  transactions post demonetization coupled with
  affordable desktops and laptops for business
  purpose has thrived the segments growth. On the
  other hand, mobile payments were observed to
  capture the remaining volume share of in India
  payment services market in FY2018.
• By Type of Industry
• Digital transactions towards financial services
  such as inter or intra transfer of funds,
  person-to-person funds, and merchant payments for
  small transaction value dominated India payments
  market with a volume share of in FY2018. The
  ease of conducting financial transactions through
  digital means is one of the major driving forces
  behind the segments growth. The segment followed
  with a collective volume share of in India
  payment services market in FY2018. Other
  services such as housing rent, education,
  purchases of luxuries such as jewelries, cars and
  rest captured the remaining volume share of in
  FY2018.

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• How m-wallet market of india is positioned?
• 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 over the review
  period FY2013-FY2018. 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. Over the forecast
  period, mobile-wallet transactions are further
  expected to increase to million by the fiscal
  year end-ing 2023E and on the other hand, India
  m-wallet transaction size is further anticipated
  to increase to INR billion in terms of
  transaction value by the fiscal year ending
  2023E thus displaying a five year CAGR of and
  respectively.

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What Is The Role Of Payment Gateweay Market In
India

• Payment gateways play a significant role in
  E-commerce transactions by authorizing the
  payment between a merchant and a consumer. Some
  of the leading payment gateway companies in India
  include PayPal, Billdesk and others. Demanding
  factors from Indian millennials such as faster
  check out and better convenience has been driving
  the growth of digital payments in India. As a
  result, it has increased the role of payment
  gateway providers in the digital payments
  landscape. Increasing cyber-crimes or threats
  have forced companies to build platforms with
  advance security features for early fraud
  detection and minimizing the collateral damage.
  The payment gateway market in India was evaluated
  at INR million in terms of transaction value in
  the FY2018.
• Large enterprises were witnessed to dominate the
  Indian payment gateway market with a revenue
  share of in terms of transaction volume in
  FY2018. These enterprises have a higher
  penetration in the digital payment ecosystem in
  comparison with the small and medium scale
  enterprises, thus leaving them with a limited
  volume share of in the FY2018.
• Due to high influence of open source payment
  gateway codes coupled with increasing banking
  platforms has forced the existing payment gateway
  companies in India to think upon differentiating
  their services and provide a value-add to their
  clients. In near future, the payment gateway
  market is expected to generate a transaction
  value of INR million by the FY2023E. Digital
  channels are the pathway through which a bank can
  interact with its customers, therefore developing
  digital channels as customer engagement will play
  a critical role.

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How pos terminal market is positioned in india?

• The growth of electronic payments in India is
  highly dependent upon the card acceptance
  infrastructure consisting of ATMs and PoS
  terminals. The Indian customers showcased a
  positive attitude towards using debit and credit
  cards, which is evident from a and growth
  respective at PoS terminals in terms of number of
  transactions. Several initiatives such as Micro
  ATMs, Aadhaar-enabled Payment Systems (AePS) and
  Prime Minister Jan Dhan Yojana (PMJDY) have been
  driving the demand for PoS terminals in Tier 2
  and Tier 3 cities, especially the rural areas.
  State Bank of India (SBI) witnessed five times
  growth in the total number of PoS device
  installations at merchant outlets owing to rising
  number of digital and plastic card transactions
  in the country.
• PoS terminals market in India had witnessed high
  growth during the demonetization period. The
  after effect of which was that there was an
  increase in deployment of PoS terminals across
  all sectors such as restaurants, retail,
  hospitals, warehouses, supermarket.
• As India is making efforts towards pushing
  plastic cash over physical cash the sale of PoS
  terminal devices is projected to increase on
  account of rising penetration of debit and credit
  cards. India PoS terminal market is anticipated
  to generate a transaction volume of PoS
  terminals by the financial year ending 2023E.
•  

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• How m-pos market is positioned in india?
• Acceptance of mPoS in the initial stage was
  dependent up on the price offering as several
  merchants who wanted to offer their customers
  another choice of payment method did not want to
  invest in costly traditional PoS terminals and
  therefore preferred to acquire mPoS devices. In
  terms of number of device installations, India
  mPoS market was evaluated at thousand in as of
  31st March 2013. Indias techno savvy population
  and a favorable demographic dividend were the two
  major factors which induced positive growth of
  mPoS in tier 1 and tier 2 cities in India. A
  growing number of MSMEs and even some large
  merchants started to took a note of mPoS, with
  early adopters preferring a tablet-based mPoS
  implementation as a complement to traditional PoS
  or, in some cases, as a replacement for cash
  registers. India mPoS market increased to
  thousand device installations as of 31st March
  2018, thus growing at a five year CAGR of over
  the review period FY2013-FY2018.
• The total number of inactive terminals is
  observed to be higher in Tier-3 cities with micro
  merchants having the largest share in inactive
  terminals. On the other hand, active terminals
  are dominated by large enterprises and SMEs, who
  are present in Tier-1 and Tier-2 cities in India.

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• Future Outlook And Projections In India Payment
  Services Market
• The rapid penetration of smartphones along with
  widespread of internet connectivity on mobiles
  devices has created a positive impact on the
  countrys payment services market. Digital
  payment services provided by non-banking
  institutions and the rise of the fintech sector,
  consumer expectations of one-touch payments, and
  progress in regulatory governance and tax breaks,
  will altogether shape up the Indias payments
  landscape in favor of digital solutions. India
  payment services market is expected to generate a
  transaction volume of million and a transaction
  value of INR trillion by the FY2023E. Owing to
  a new generation of digital payment services,
  opening up new opportunities for a relatively
  high proportion of "unbanked" to make purchases
  online, the volume of transaction happening
  through in digital landscape would change
  drastically. The growth of e-commerce in India
  coupled with the country's immense potential
  provides lucrative opportunities for retailers
  and merchants who can support India's digital
  payment methods.

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• For more information on the research report,
  refer to below link
• https//www.kenresearch.com/banking-financial-serv
  ices-and-insurance/financial-services/india-paymen
  t-services-market-research-forecast-2023-/154993-9
  3.html
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