India Payment Gateways Market Share, Growth And Report Analysis 2023-2028

According to the latest report by IMARC Group "India Payment Gateways Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The India payment gateways market size reached US$ 1,459.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,897.6 Million by 2028, exhibiting a growth rate (CAGR) of 11.6% during 2023-2028.

A payment gateway represents a service provider that acts as an interface between payment portals, such as e-commerce websites and the acquiring banks. Furthermore, it protects sensitive data, including bank account or credit card details, from fraudulent activities while completing requests with HTTPS protocol that secures personal information. In line with this, a payment gateway generally offers consumers the facility to make purchases at any hour of the day without the inconvenience of remaining in long queues. As a result, it finds wide-ranging applications across various sectors, such as retail, media and entertainment, BFSI, etc.

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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 and Drivers:

The inflating need for these services, owing to the rising use of mobile wallets and continuous advancements in revenue technology, is among the primary factors driving the India payment gateways market. Besides this, the increasing number of online transactions and the emerging trend of several methods, including token systems and cash pooling, are further augmenting the market growth. Moreover, the growing popularity of payment gateways, such as credit or debit cards, mobile wallets, net banking, etc., that offer a convenient method and provide cashback schemes or discounts to users is also catalyzing the market growth across India. Apart from this, the widespread adoption of smartphones and tablets and the improved network bandwidth are acting as significant growth-inducing factors. Additionally, the digital transformation of businesses and the development of innovative methods by key market players for conducting online transactions are anticipated to propel the India payment gateways market over the forecasted period.

Report Segmentation:

The report has segmented the market into the following categories:

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.

If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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