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E-payment Solutions Market may zoom in the Cloud | HDFC Bank, ICICI Bank, Infibeam Avenues

E-payment Solutions Market

E-payment Solutions Market

A new research document is added in HTF MI database of 70 pages, titled as 'E-payment Solutions Market in India 2020' with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions and important players/vendors such as Axis Bank Limited, HDFC Bank Limited, ICICI Bank Limited, Infibeam Avenues Limited, State Bank of India, Airtel Payments Bank Limited, Mswipe Technologies Private Limited, One97 Communications Limited, One MobiKwik Systems Private Limited, Google LLC, PayPal Payments Private Limited. The Study will help you gain market insights, upcoming trends and influencing growth prospects for forecast period of 2020-2026.

Access sample report @ https://www.htfmarketreport.com/sample-report/2585537-e-payment-solutions-market-2

Summary
As online payment rose in popularity, paper-based clearing methods experienced a sharp blow within the overall retail payments sector (both in terms of value and volume) in FY 2019. The e-payment solutions market in India is expected to expand at a compound annual growth rate (CAGR) of ~21.74% during the FY 2020-FY 2024 period, from its FY 2019 value of INR 1,638.49 Tn to reach INR 4,323.63 Bn by FY 2024. Based on volume, the market would expand at a CAGR of ~60.65% during the same period (FY 2020-FY 2024). Bank cards (debit cards, credit cards), e-wallets and UPI are some of the common modes of online payment prevalent in the country.

Development in fintech, e-commerce and digital banking is significantly driving the growth of e-payments in the country. Integration of payment services in popular non-banking mobile applications such as WhatsApp, Apple Pay, Amazon Pay and Ola Money, among others, is also fueling e-payments, especially among the millennial population in India.
Major players currently operating in the Indian e-payment solutions market include scheduled commercial banks like Axis Bank Limited, HDFC Bank Limited, ICICI Bank Limited and State Bank of India. Apart from banks, e-payment solution providers like Infibeam Avenues Limited, Airtel Payments Bank Limited, Mswipe Technologies Private Limited, Google LLC, and PayPal Payments Private Limited, also operate in the market.

Companies covered: Axis Bank Limited, HDFC Bank Limited, ICICI Bank Limited, Infibeam Avenues Limited, State Bank of India, Airtel Payments Bank Limited, Mswipe Technologies Private Limited, One97 Communications Limited, One MobiKwik Systems Private Limited, Google LLC, PayPal Payments Private Limited

View Detailed Table of Content @ https://www.htfmarketreport.com/reports/2585537-e-payment-solutions-market-2

Segment-wise market overview
Out of the different types of e-payment solutions, real-time gross settlement (RTGS) held the largest market share, followed by retail electronic clearing and bank cards, during the FY 2017-FY 2019 period, based on value. However, based on volume, bank cards held the largest market share during the same period.

The share of national electronic funds transfer (NEFT), based on value, declined from ~90.72% in 2017 to ~85.20% in 2019, while it went down from ~38.41% in 2017 to ~18.60% in 2019, based on volume. On the other hand, share based on value for immediate payment service (IMPS) shot up from ~3.11% in 2017 to ~5.94% in 2019, and from ~12% in 2017 to ~14.06% in 2019, based on volume.
Based on value, the share of credit cards decreased from ~44.25% in 2017 to ~42.80% in 2019, while on the basis of volume, the share dropped to ~16.35% in 2019 from ~19.95% in 2017. In the case of debit cards, shares fell from ~44.45% in 2017 to ~42.10% in 2019, based on value, and from ~44.02% in 2017 to ~40.94% in 2019, based on volume.

IMPS and UPI are mobile based e-payment methods, which makes transaction easy and hassle free for customers. On the other hand, in order to transfer fund through both NEFT and NACH (national automated clearing house), customers are required to visit their respective bank branches. Also, transaction through NEFT and NACH require manual intervention, which in turn limits the process within the working hours of the bank. Mobile-based e-payment solutions have gained widespread acceptance since they allow smooth transaction. The popularity of branch-based solutions like NEFT and NACH has sank, in recent years.

Key growth driver of the market
Of late, the e-commerce market in India has been experiencing rapid growth, owing to the participation of companies offering niche products, presence of a large Internet user base, launch of 4G and increase in the purchasing power of consumers. E-commerce giants like Amazon, Flipkart and Paytm Mall often provide cashback and discount offers for online transactions, which in turn attract young customers towards e-payment systems.

Key deterrent to the growth of the market
Despite multiple efforts of the government towards making the Digital India campaign successful, cash continues to be the most popular mode of transaction in the country. This is impeding the adoption of e-payment services across the country.

Companies covered
• Axis Bank Limited
• HDFC Bank Limited
• ICICI Bank Limited
• Infibeam Avenues Limited
• State Bank of India
• Airtel Payments Bank Limited
• Mswipe Technologies Private Limited
• One97 Communications Limited
• One MobiKwik Systems Private Limited
• Google LLC
• PayPal Payments Private Limited

Get Customization in the Report, Enquire Now @ https://www.htfmarketreport.com/enquiry-before-buy/2585537-e-payment-solutions-market-2

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction
3.1. Market definition and structure
3.2. Major global players using AI-based manufacturing process

Chapter 4: India artificial intelligence market overview
4.1. India artificial intelligence market overview
4.1.1. India artificial in

....Continued

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It's vital you keep your market knowledge up to date. If you have a different set of players/manufacturers according to geography or needs regional or country segmented reports we can provide customization accordingly.

Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA – 08837
Phone: +1 (206) 317 1218
sales@htfmarketreport.com

About Author:
HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the “Accurate Forecast” in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their “Goals & Objectives”.

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