NEW YORK, Nov. 10, 2015 /PRNewswire/ --
The report titled "India Payment Services Industry Outlook to 2019 - Surging Investments in MPOS, mWallet and NFC to Drive Growth" provides a comprehensive analysis of the various aspects such as market size of the payment industry, mobile wallets, mobile banking and MPOS payments along with online payments and payment gateways. The report also covers the market shares of major companies involved in different segments in the payment industry in India.
The payment market is majorly driven by transactions through mobile point of sale terminals and mobile banking, in FY'2014 registered transactions worth of INR ~ million. There is a growth recorded of 147.6% from the revenues generated by the industry as compared to the previous year, where the total transactions were INR ~ million. Each segment in the payment market is subject to a gamut of different factors such as number of units sold, reach amongst customers and merchant acquisitions that play an important role in determining their respective revenues.
The major segments in the payment industry in India include, MPOS, mobile banking, mobile wallets and online bill payments. In FY'2014, the largest share of market was held by mobile banking services at INR ~ million and was followed by payments made by using mobile point of sale devices. Mobile wallets and online bill payments comprise only of a small percentage share in the market.
Moreover, each segment in the payment industry in India comprises of a different set of players. For example, in mobile banking sector, financial institutions such as banks operate independently by using an application developed by a software company. However, in mobile POS market, there is a tie-up between the financial institution and the gateway to route transactions. Mobile wallets have witnessed collaborations between telecom companies and banks to provide pre-paid wallet services to customers. The largest market share in mobile banking market in terms of value of transactions was held by ICICI at ~%, whereas, by volume of transactions it was led by the State bank of India at ~% in FY'2014.
The market for payments in India is changing rapidly. Technological advancements and a high rate of adoption of mobile devices have enabled the growth of banking and payment services. Also, the increase in internet penetration across both urban and rural sectors has provided a platform for payment and software companies to provide solutions which can amplify the financial services. Competitive pressures in this sector have been significantly changing the market with more number of startups providing cost effective services to customers. India payment market is expected to grow at a CAGR of ~% from FY'2015 to FY'2019 and has been estimated to out-grow INR ~ million by FY'2019.
Key Topics Covered in the Report:
- The market size of the India m-payment industry.
- The market size of the m-wallet market.
- The market size of the m-banking market.
- The market size of the m-POS market.
- The market size of the bill payments market.
- The market size of the online bill payments market.
- The market size of the payment gateway market.
- Market segmentation of the sectors on the basis of value and volume of transaction, more of payment and payment channels.
- Market segmentation of the m-POS market on the basis of revenues sources.
- Trends and Development in the India payment market.
- Competitive landscape and detailed company profiles of the major financial institutions and companies involved in the payment industry in India.
- Future outlook and projections of the India payment market
Read the full report: http://www.reportlinker.com/p03147362-summary/view-report.html
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