1. Market Research
  2. > Financial Services
  3. > Banking
  4. > Payments
  5. > Credit Card Market Trends
India Payment Market, Volume & Revenue by Digital Mode: by UPI, NETC, BBPS, PPIs, Cards, AePs, ATM, VAS, Remittances, Prepaid Instruments, Companies, Forecast

India Payment Market, Volume & Revenue by Digital Mode: by UPI, NETC, BBPS, PPIs, Cards, AePs, ATM, VAS, Remittances, Prepaid Instruments, Companies, Forecast

  • May 2021
  • 140 pages
  • ID: 6075560
  • Format: PDF
  • Renub Research

Summary

Table of Contents

India Payment Market, Volume & Revenue by Digital Mode: by UPI, NETC, BBPS, PPIs, Cards, AePs, ATM, VAS, Remittances, Prepaid Instruments, Companies, Forecast

The Indian payment spaces have seen extraordinary growth in the last few years.
India has seen a rampant through rise in internet and mobile users, due to affordable mobile internet, and the increasing use of mobile apps. Further digitization in payments has gained significant momentum and has huge potential to this market. The introduction of new payment products like Unified Payments Interface (UPI), National Electronic Toll Collection (NETC) and credit card and Bharat Bill Pay Service (BBPS), Cross-Border Remittances, Cards, Debit Card Transactions, Credit Card, Debit Card, and ATM Transactions have firmly placed the India payment industry on an upward growth trajectory. With new payment tools and user across regions emerging, this growth is expected to continue in future too. According to the research, India Payment Market will reach to INR 280.84 Trillion by 2027.

In 2018, India launched UPI 2.0 with the aim to increase UPI with more use transactions. Invoice verification, linking of overdraft account, additional security through signed intent and QR are some of the features introduced in UPI 2.0. Indian Industries are now working on both online and offline channels in order to deliver an Omni-channel experience to their consumers. UPI logged the maximum amount of transactions due to its easy assessable and safe payments.

On the other hand, the National Electronic Toll Collection (NETC) system has seen stable growth in the last few years. Recent instructions by the Government of India have on NETC help its an exponential growth trajectory. According to our research 2020–2025, NETC customers were 64 Million, 93 Million, and 110 Million in the months of December 2019, January 2020, and February 2020 respectively. India Online Payment Market will grow at staggering CAGR of 15.73% during 2020-2027.

In India Prepaid payment instruments (PPIs) have remained limited to about 43 authorized prepaid payment instruments example gift cards, meal reimbursements and foreign exchange cards. Mobile wallets made transaction more convenient and demonetization led to users accepting PPIs easily. Their mobile wallets are now being used for bill payments and money transfer, further enhancing the usage of PPIs. Government of India’s continues promotion for the digital penetration had built trust among people for doing cash transactions by cards like Debit and credit cards. In the last 5 years, the credit cards issued number has grown from 211 lakh to over 550 lakh, and debit cards numbers has grown from 5,535 Lakh to over 8,000 Lakhs. However, it faces challenges like no reward points and sometimes over spending can lead to debt. As per the research findings, India Digital Payment Market was of INR 101 Trillion in 2020.

India payment market is growing year on year and the continued dependency on money keep the few challenges profoundly rooted in the digital payments ecosystem in India. While the government and digital payment companies compelling for a cashless economy, the drawback probably lies in the lack of a procedure affecting the implementation of digital payment methods. In India metro cities like Delhi, Mumbai, and Bengaluru have more options and facilities to do payments as compared to small cities and countryside’s. This is one of the major hurdels which are affecting the growth of India digital payment industry.

The report titled “India Payment Market & Volume by Digital Mode: UPI (Value, Volume, Revenue), NETC, (Value, Volume, Revenue), Bharat Bill Pay System (BBPS) (Value, Volume, Revenue), Existing Business Categories, New Business Categories, Categories Share in Transaction Volume, Channel Wise Split (Transaction Value), Cross-Border Remittances (Inflow, Outflow, Revenue), Credit Cards (Transactions Value, Transaction Volume), Debit Cards (Transaction Value, Volume), Revenue (Credit Card and Debit Card), ATM Transactions (Value, Volume, Revenue), Merchant Acquiring Revenue, VAS Revenue, AePs (Value, Volume, Revenue), Prepaid Payment Instruments (Value, Volume, Revenue)" provides a detailed analysis of India Online Payment Market.

Digital Payment Modes - Market, Volume & Revenues breakup from 7 viewpoints
1. UPI

a) Transaction Value
b) Transaction Volume
c) Revenue
2. NETC

a) Transaction Value
b) Transaction Volume
c) Revenue
3. Bharat Bill Pay System (BBPS)

3.1 Transaction Value
3.2 Transaction Volume
3.3 Revenue
3.4 Existing Business Categories
3.5 New Business Categories
3.6 Categories Share in Transaction Volume
3.7 Channel Wise Split (Transaction Value)

4. Cross-Border Remittances

a) Inflow
b) Outflow
c) Revenue
5. Cards

5.1 Credit Card Transactions

5.1.1 Transaction Value
5.1.2 Transaction Volume

5.2 Debit Card Transactions

5.2.1 Transaction Value
5.2.2 Transaction Volume

5.3 Revenue (Credit Card and Debit Card)

5.4 ATM Transactions

5.4.1 Transaction Value
5.4.2 Transaction Volume
5.4.3 Revenue

5.5 Merchant Acquiring Revenue
5.6 VAS Revenue

6. AePs

a) Transaction Value
b) Transaction Volume
c) Revenue
7. Prepaid Payment Instruments

a) Transaction Value
b) Transaction Volume
c) Revenue

All companies have been covered from 3 viewpoints
• Overviews
• Recent developments
• Revenues

Company Insights
1. PayTM
2. Mobikwik
3. Google Pay
4. Amazon Pay
5. PhonePe

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on