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India Bills Payment Market Outlook to 2020 - Rising Internet Penetration and Advent of Mobile Wallet to Shape Future Growth

India Bills Payment Market Outlook to 2020 - Rising Internet Penetration and Advent of Mobile Wallet to Shape Future Growth

  • March 2016
  • 163 pages
  • ID: 3940200
  • Format: PDF
  • Ken Research Private Limited

Summary

Table of Contents

Executive Summary

The report titled “India Bills Payment Market Outlook to 2020 - Rising Internet Penetration and Advent of Mobile Wallet to Shape Future Growth” provides a comprehensive analysis of the billers’ desk, third party, online, offline bills payment segment in India. The report covers various aspects such as market size of bills payment market, active subscriber base of market. It also includes segmentation by rural and urban market for bills payment in India; segmentation by types of bills paid, penetration of players in online and offline space, segmentation by different source of payment. The report also provides competitive landscape and profile of major players operating in different segments- mobile bills, DTH, data card and utility bills payment market of India. The future analysis of overall India bills payment market and by segments has also been discussed in each of the sub segment. The report is useful for existing bills payment market players, new startups emerging in the online bills payment space and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.

India Bills Payment Market

India bills payment market has witnessed a growth in recent years on account of rising demand for online methods of bills payment fueled by introduction of new technologies, rising internet and smartphone penetration. The market for bills payment has inclined at CAGR of ~% and reached INR ~ billion in FY’2015. Furthermore, the rise in geographical penetration and entry of new players has provided surge in growth which is majorly originated from growth in online methods of bills payment market.
In FY’2015, online bills payment market accounted for ~% of the overall bills payment market transaction volume, whereas the share of offline bills payment was registered as ~% in FY’2015. Utility segment has been registered as highest contributor to overall bills payment market with share of ~% in FY’2015 followed by mobile bills payment and DTH bills payment. In FY’2015, mobile bills payment accounted for ~% of the overall market. The proportionate share of rural areas in the overall market has inclined during the period FY’2010-FY’2015 due to rising internet connectivity and growing penetration of players in rural areas.

The market for bills payment in India is projected to witness a rise in transaction volume at a CAGR of ~% during the period FY’2016-FY’2020. The rise in the transaction volume has been registered mainly on account of rising trend of online payment. The major contributor to market transaction volume is expected to be utility segment and mobile bills payment sector due to rising active consumer base and augmenting ARPU.

India Online Bills Payment Market

Online bills payment market has showcased high growth trajectory during FY’2010 – FY’2015. Third party sites and mobile wallets were the fastest growing segments during the last 5 years due to attractive cash back and discount offers. Online utility bills payment market has been dominating the overall online bills payment market with a share of ~% in FY’2015 due to rising consumer base, increase in electricity and LPG tariffs by the government and rising smartphone penetration and mobile internet which make it convenient to make a bill payment.

Third party payment portals contributed ~% to the online bills payment transaction volume. These portals created a new business model by aggregating all bill payments and recharges at a single platform. In FY’2015, Banks contributed ~% to the online bills payment market transaction volume.

Indian online bills payment market is projected to scale new heights in the coming years owing to a number of factors. The industry would be driven by increasing internet penetration, rise in online shopping owing to lower prices relative to brick and mortar stores and presence of a large number of online retailers offering payment through debit/credit cards and net banking. The transaction volume of the market is projected to incline to INR~ billion by FY’2020 registering a CGR of ~% during FY’2016-FY’2020.

India Offline Bills Payment Market

The rise in transaction volume of offline bills payment market has been registered owing to lack of knowledge among individuals about online methods of payment, lower internet connectivity in Tier II and Tier III cities and due to lack of security issues and trust of consumers while making online payment. Utility bills payment accounted for ~% of the overall bills payment market in FY’2015. The greater share of utility sector in overall bills payment market has been attributed mainly to rising number of households demanding electricity and LPG connections, rising electricity tariffs along with soaring prices of LPG cylinders in different states of India.

India Mobile Bills Payment Market

The India mobile bills payment market has witnessed a continuous growth during the period of FY’2010-FY’2015 at a CAGR of ~%. The increase in transaction volume generated from mobile market can be attributed to the growing number of active mobile phone users, surging middle class, and increase in mobile internet users along with rising ARPU in the mobile bills payment market. In FY’2015, prepaid mobile connection accounted for ~% of the overall mobile bills payment market transaction volume. Furthermore, in FY’2015 urban areas accounted for ~% of the overall market transaction volume, the lower contribution of rural areas has been majorly due to lower density of network coverage in rural areas over the years which have been one of the major reasons for comparatively lower share of rural areas in mobile bill payment market.

In FY’2015, Airtel has been major player in India mobile bills payment market with revenue share of ~% in the overall market transaction volume, followed by Vodafone with revenue contribution of ~% to market transaction volume. The market has also witnessed presence of other players such as Aircel, BSNL and others in the mobile bills payment market.
?
India DTH Bills Payment Market

The market for DTH bill payment has registered transaction volume of INR ~ billion in FY’2010 which inclined to INR ~ billion in FY’2015. The drastic increase in the transaction volume has been attributed to rising number of registered users because of the rising trend for digitization, the preference for quality viewing and rising affordability amongst the population of India. During the period FY’2010-FY’2015, offline bill payment market has dominated the overall DTH bill payment market of India with share of ~% in market transaction volume during FY’2015. Furthermore, the market for DTH bills payment has been dominated by urban areas, which registered ~%of contribution to overall market transaction volume during FY’2015. As of FY’2015, Tata Sky stands as a leader in the Indian DTH market in terms of number of subscribers as well as transaction volume followed by Bharti Airtel and Dish TV.

India Utility Bills Payment Market

The market for utility bills payment in India has witnessed a drastic incline during the period FY’2010-FY’2015 at CAGR of ~%. The market has witnessed incline owing to factors such as inclining rural and urban population leading to rise in electricity consumption, rising rate of electricity and LPG in different states and others. The proportionate share of rural areas in overall utility bills payment market has inclined rapidly during the period FY’2010-FY’2015. Higher proportionate share of rural India can be attributed to the fact that majority of population in India resides in rural areas, thus accounting for greater share in basic necessities of light and fuel market. Furthermore, electricity bills amounted for higher proportionate share in the overall utility bills payment market as compared to share of LPG during FY’2015.?

Key Topics Covered in the Report:

-The market size of India Bills Payment Market
-Market Structure of Organized and Unorganized Market Players in Bills Payment Market
-Market segmentation of India bills Payment market on the basis different services, by modes payment and by region-rural and urban
-Market Size of India Online and Offline Bills Payment Market
-The Market Size of Mobile, DTH, Data Card and Utility bills payment market.
-Market Share of major Player in India Mobile Bills Payment Market
-Market Share of major Player in India DTH Bills Payment Market
-Market Share of major Player in India Data Card Bills Payment Market
-Trends and Growth drivers of India bills payment market
-Issues and Challenges of India bills payment market
-Future Projections of India bills payment market
-Macro Economic Variables affecting India bills payment market
-Analyst Recommendations


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