India Payment Gateway Market Growing Massively by 2022-2025 Major Players: PayU, Paytm, Razorpay Software Private Limited, PayPal India Private Limited, CCAvenue

Market Insights Reports has added new statistical data to its repository titled as, India Payment Gateway Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The India Payment Gateway market report covers the post-COVID-19 impact on various regions and major countries and on the future development of the industry is pointed out.

India Payment Gateway Market is expected to register a CAGR of 15% over the forecast period 2020 to 2025.

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Top Key Players in the India Payment Gateway Market are PayU, Paytm, Razorpay Software Private Limited, PayPal India Private Limited, CCAvenue, BillDesk, Instamojo Technologies Private Limited, One MobiKwik Systems Private Limited, and others. 

Industry News and Update:

- April 2020 - Paytm Payments Bank partnered with Mastercard to issue virtual and physical debit cards. The deal will see the Paytm Payments Bank beta customers issued with cards in an initial rollout, followed by its entire user base in short order.

- February 2020 - Whatsapp is planning to launch its payment gateway Whatsapp Pay in India in a phased manner as the company has got a nod from the National Payments Corporation of India for the same. The rollout will allow the messaging app to grow its payment services using the government's UPI scheme.

Key Market Trends:

Growing E-Commerce Transactions to Drive Market Growth

- The rise in e-commerce transactions is increasing the adoption of various payment gateways in India. According to the Indian Brand Equity Foundation, the Indian e-commerce industry has been on an upward growth trajectory and is expected to surpass the US to become the second-largest e-commerce market in the world by 2034. The e-commerce market is expected to reach USD 64 billion by 2020 and USD 200 billion by 2026.
- Various government regulations are boosting the e-commerce industry in the country. In India, 100 percent FDI is permitted in B2B e-commerce. As per new guidelines on FDI in e-commerce, 100 percent FDI under automatic route is permitted in the marketplace model of e-commerce.
- As merchants and users avoid crowding in shops and neighborhood stores due to coronavirus pandemic, merchants will start taking and managing orders digitally, while requesting for payments online remotely. Flipkart-owned PhonePe, as well as Google Pay, allowed users to identify neighborhood stores in a customer’s locality, digitally, which were open and delivering, while allowing users to pay them through their respective apps. According to RBI, UPI transactions for the month of April 2020 stood at an excess of INR 1511 billion for retail payments.
- New vendors are entering the e-commerce space, which will boost the use of various payment gateways in the country. In May 2020, Reliance Industries launched an online extension of its grocery business under JioMart brand across 200 cities. Products offered on JioMart include fruits and vegetables, dairy and baked goods, staples, snacks and branded foods, beverages, and personal and home care.

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This India Payment Gateway Market report addresses:

– The Market size from 2016-2021

– Expected market growth until 2025

– Forecast of how market drivers, restraints, and future opportunities will affect

– Segment and regions that will drive or lead the market growth and why

– Comprehensive mapping of the competitive landscape

– In-depth analysis of key sustainability strategies adopted by market place.                              

Frequently Asked Questions about India Payment Gateway market:

– What are the recent developments and government policies?
– Why might we forecast a downturn in a particular economy next year?
– Why do we say the currency is set to appreciate?
– What countries and sectors offer the highest potential?
– Where are the greatest dangers?              

We Also Offer Customization on report based on specific client Requirement:

– Free Country Level analysis for any 5 countries of your choice.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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