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India Mobile Payment Market Size, Share, Trends, Analysis: By Technology: Direct Mobile Billing, Near Field Communication, Mobile Web Payment, SMS, Mobile Application, Others; By Payment Type: B2B, B2C, B2G; By Location: Remote Payment, Proximity Payment; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
India Mobile Payment Market Growth
The Reserve Bank of India is expected to introduce the facility of cash deposits in banks through the Unified Payments Interface (an instant payments platform developed by NPCI). This is expected to accelerate market development in the forecast period.
The National Payments Corporation of India is also assisting emerging fintech companies in promoting the usage of their digital apps for UPI transactions. This is expected to increase the India mobile payment market value.
The volume of digital payments has recorded an annual growth rate of 50% in India, the highest in the world. The number of transactions reached 5.86 billion in June 2022, while the number of banks providing instant money transfer services on mobiles recorded a y-o-y increase of 44%. To further the scope of financial accessibility, the RBI introduced a UPI facility for feature phones. This is expected to enable 400 million rural people to adopt digital payments, thereby aiding the India mobile payment market expansion.
India Mobile Payment Market Report Snapshots
India Mobile Payment Market Size
India Mobile Payment Market Growth
India Mobile Payment Market Trends
India Mobile Payment Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 Asia Pacific Mobile Payment Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Mobile Payment Historical Market (2018-2023)
8.3 Asia Pacific Mobile Payment Market Forecast (2024-2032)
9 India Mobile Payment Market Analysis
9.1 Key Industry Highlights
9.2 India Mobile Payment Historical Market (2018-2023)
9.3 India Mobile Payment Market Forecast (2024-2032)
10 India Mobile Payment Market by Technology
10.1 Direct Mobile Billing
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Near Field Communication
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Mobile Web Payment
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 SMS
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Mobile Application
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 India Mobile Payment Market by Payment Type
11.1 B2B
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 B2C
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 B2G
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 India Mobile Payment Market by Location
12.1 Remote Payment
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Proximity Payment
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 India Mobile Payment Market by End Use
13.1 BFSI
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Healthcare
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 IT and Telecom
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Media and Entertainment
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Retail and E-Commerce
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Transportation
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
13.7 Others
14 India Mobile Payment Market by Region
14.1 North India
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 East and Central India
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 West India
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 South India
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyers Powers
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Alphabet Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Walmart Inc. (PhonePe)
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Amazon.com Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 One 97 Communications Ltd. (Paytm)
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Samsung Electronics Co. Ltd.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 ICICI Bank Ltd.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 PayPal Holdings Inc.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Apple Inc.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Meta Platforms Inc.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 HDFC Bank Ltd.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Visa Inc.
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 Others
17 Key Industry Trends and Developments
List of Key Figures and Tables
1. Asia Pacific Mobile Payment Market: Key Industry Highlights, 2018 and 2032
2. India Mobile Payment Market: Key Industry Highlights, 2018 and 2032
3. India Mobile Payment Historical Market: Breakup by Technology (USD Trillion), 2018-2023
4. India Mobile Payment Market Forecast: Breakup by Technology (USD Trillion), 2024-2032
5. India Mobile Payment Historical Market: Breakup by Payment Type (USD Trillion), 2018-2023
6. India Mobile Payment Market Forecast: Breakup by Payment Type (USD Trillion), 2024-2032
7. India Mobile Payment Historical Market: Breakup by Location (USD Trillion), 2018-2023
8. India Mobile Payment Market Forecast: Breakup by Location (USD Trillion), 2024-2032
9. India Mobile Payment Historical Market: Breakup by End Use (USD Trillion), 2018-2023
10. India Mobile Payment Market Forecast: Breakup by End Use (USD Trillion), 2024-2032
11. India Mobile Payment Historical Market: Breakup by Region (USD Trillion), 2018-2023
12. India Mobile Payment Market Forecast: Breakup by Region (USD Trillion), 2024-2032
13. India Mobile Payment Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 1.95 trillion in 2023.
The market is projected to grow at a CAGR of 25.2% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 14.74 trillion in 2032.
The different technologies used for mobile payment include direct mobile billing, near field communication, mobile web payment, SMS, and mobile application, among others.
The different payment types in the market include B2B, B2C, and B2G.
The major regions in the market include North India, East and Central India, West India, and South India.
The key market players are Alphabet Inc., Walmart Inc. (PhonePe), Amazon.com Inc., One 97 Communications Ltd. (Paytm), Samsung Electronics Co. Ltd., ICICI Bank Ltd., PayPal Holdings Inc., Apple Inc., Meta Platforms Inc., HDFC Bank Ltd., and Visa Inc., among others.
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