India Payment Gateways Market 2022, Share, Size, Trends, Growth And Forecast 2027

According to the latest report by IMARC Group "India Payment Gateways Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The India payment gateways market size reached US$ 1,266 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 2,680 Million by 2027, exhibiting a growth rate (CAGR) of 12.92% during 2022-2027.

A payment gateway stands for a service provider that acts as an interface between payment portals like e-commerce websites and banks by facilitating transactions of payments. This portal protects sensitive data, including Card Certification Value (CVV) and credit card or bank account details, from fraudulent entities while completing the order submission with HTTPS protocol that secures personal information. Payment gateways offer several benefits, such as a user-friendly interface, time efficiency and expense and loss management.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

India Payment Gateways Market Trends:

The India payment gateways market is primarily propelled by the thriving e-commerce sector and the constant evolution of payment methods, like cash pooling, token systems and various cashless transactions. Moreover, the rising adoption of smartphones and tablets has resulted in the shift from brick-and-mortar distribution channels towards online shopping. Additionally, the high internet connectivity and the growing use of mobile wallets supported by numerous advancements in mobile payment technologies are also augmenting the market growth in the country. Furthermore, various banks are collaborating with retail vendors to provide cashback schemes or discounts to expand their customer base. In the coming years, the elevating levels of urbanization along with the rising integration of numerous advanced technologies, such as AI, IoT, cloud computing, etc., are further expected to drive the India market for payment gateways in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India payment gateways market report, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on application and mode of interaction.

Breakup by Application:

Large Enterprises
Micro and Small Enterprises
Mid-Size Enterprises

Breakup by Mode of Interaction:

Hosted Payment Gateways
Pro/Self-Hosted Payment Gateways
API/Non-Hosted Payment Gateways
Local Bank Integrates
Direct Payment Gateways
Platform-Based Payment Gateways

Breakup by Region:

North India
West and Central India
South India
East India
Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

For more information about this report visit: https://www.imarcgroup.com/india-payment-gateways-market

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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