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Report Overview

The India mobile payment market reached USD 1.95 Trillion in 2024. The market is projected to grow at a CAGR of 25.20% between 2025 and 2034, reaching almost USD 18.45 Trillion by 2034.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

  • Paytm, Google Pay, and PhonePe account for over 90% of all transactions by value and volume in India.

  • In February 2024, 122 crore transactions worth RS. 18.2 lakh through UPI were recorded in India.

  • Remote proximity is expected to constitute a major portion of the market share.

India Mobile Payment Market Size

The India mobile payment market reached USD 1.95 trillion in 2023. The market is projected to grow at a CAGR of 25.2% between 2024 and 2032, reaching almost USD 14.74 trillion by 2032.

 

India Mobile Payment Market Outlook

  • Paytm, Google Pay, and PhonePe account for over 90% of all transactions by value and volume in India.
  • In February 2024, 122 crore transactions worth RS. 18.2 lakh through UPI were recorded in India.
  • Remote proximity is expected to constitute a major portion of the market share.

 

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.*

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Key Questions Answered in the Report

The market was valued at nearly USD 1.95 Trillion in 2024.

The market is projected to grow at a CAGR of 25.20% between 2025 and 2034.

The market is assessed to witness a healthy growth in the forecast period to reach around USD 18.45 Trillion in 2034.

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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