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

The value of e-money payments at terminals in India has seen substantial growth from 1.38 billion USD in 2013 to 17.06 billion USD in 2023. Over the past decade, the sector experienced rapid expansion, evidenced by high year-on-year growth rates such as 152.9% in 2014 and 117.77% in 2015. However, growth has been more volatile recently, with notable fluctuations including an 11.56% decline in 2020. The market had a strong recovery with a 34.2% increase in 2021, though growth stabilized, standing at 5.18% in 2023. The CAGR over the last five years till 2023 is 6.15%, indicating consistent growth despite market fluctuations.

Looking forward, the e-money payments market is expected to continue growing, with forecast data predicting a CAGR of 3.59% from 2024 to 2028. By 2028, the market value is projected to reach 21.52 billion USD, representing a 19.26% increase over five years.

Future trends to watch for include technological advancements in mobile payments, increased digital adoption spurred by pandemic shifts in consumer behavior, enhanced cybersecurity measures, and regulatory changes enhancing the digital payment landscape. Additionally, expanding rural internet connectivity and financial inclusion initiatives could further drive market growth.