Rbi payment system indicators2/27/2023 External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The objective of the report is to present a comprehensive analysis of the India M-Commerce Payment Market including all the stakeholders of the industry. The high growth potential of the Indian e-commerce market is based on existing smartphone penetration, which is low, with only 22 % of the population owning such a device. It is already used for 46% of transactions. M-commerce is set to become the primary payment method for online shopping in India. Smartphone User in India: India A World Leader in App-Based Payment Methods Digital wallets using near field communication (NFC) for contactless card machines comprise Samsung Pay, Apple Pay, and Google Pay and this is consequently set fuel the M-commerce market in India. Such as, ICICI Bank launches NFC-based contactless mobile pay solution in March 2016. Renewed interest in NFC is anticipated to provide lucrative opportunities for the Indian market in upcoming years. By payment mode, Near Field Communication (NFC) is expected to account for the largest XX% market share by 2027. The report covers the segments in the m-commerce payment market such as transactions, payment modes, and end-user. India M-Commerce Payment Market Segmentation: This, however, means that a quarter of India’s population does not own a smartphone, proposing further opportunities for growth. Increased M-commerce sales will be supported by good smartphone penetration, which, at 75%, places it on a par with Singapore. There are a plethora of digital wallet options available in India already, with the most popular with Airtel Money and PayPal. Digital wallet use is expected to grow at a compound annual growth rate of nearly 80% to 2021, at which point it will be the primary online payment method, taking a 34.8% share of sales. Major fast-growing payment method in India is digital wallets, which are currently used for a quarter of all E-commerce payments. Already familiar with using smartphones for social networking, Indian customers are using their trusted mobile devices to pay for goods both offline and online. E-Wallets are also gaining popularity in-store, growing at a rate of 39% each year. There is significant room for development from basic access to the internet to innovation in its online payment methods but both the state and e-commerce companies are ramping up investment in the industry’s underlying infrastructure. Rapid growth is on the horizon for India’s market for electronic commerce. It highlights the drivers, restraints, and opportunities expected to influence market growth during 2020-2027. The report covers all the trends and technologies playing a major role in the growth of the India M-Commerce Payment Market over the forecast period. India M-Commerce Payment Market Dynamics: Mobile payment is a new developing way of paying by using a mobile terminal to start transaction over a mobile network. M-commerce (mobile commerce or mobile payment) is any payment transaction involving the purchase of goods or services that is completed with a wireless device, like a cellular phone, personal computer (wireless), or personal digital assistant. India M-Commerce Payment Market Definition: The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis. To know about the Research Methodology :- Request Free Sample Report India M-Commerce Payment Market size is expected to reach nearly US $ 36.5 Bn by 2027 with the CAGR of 22.3% during the forecast period.
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