Forecast: Number of E-money Payments at Terminals in India

The number of E-money payments at terminals in India experienced a substantial growth from 2013 to 2016, with annual increases ranging from 102.12% to 162.51%. However, this was followed by fluctuations, including a significant decrease of 12.21% in 2017 and another drop in 2020 by 11.18%. The market recovered in subsequent years, recording a steady 5.47% year-on-year growth in 2023. As of 2023, the number of E-money payments stood at 2560 million units.

Looking forward, the forecast indicates a gradual and consistent increase, with a projected 5-year CAGR of 3.74%, indicating a slower, yet stable growth rate compared to historical data. By 2028, the volume of E-money payments is expected to reach 3270 million units, reflecting a total growth of 20.14% over the next five years.

Future Trends to Watch For:

• Technological Advancements: Innovations in payment technologies and increasing smartphone penetration are likely to drive further adoption of E-money payments.
• Regulatory Environment: Changes in government policies and regulatory measures could impact the growth trajectory of digital payments.
• Economic Factors: Economic stability and consumer spending patterns will play a critical role in shaping the future of E-money transactions.