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2020 Indian Cards and Payments Market Report, Featuring Key Vendors HDFC Bank, ICICI Bank, RuPay, Jio Money and More
Thursday, November 19, 2020
DUBLIN, Nov. 11, 2020 /PRNewswire/ -- The "India Cards and Payments - Opportunities and Risks to 2024" report has been added to ResearchAndMarkets.com's offering.
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This report provides detailed analysis of market trends in the Indian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, cheques, and direct debits during the review-period (2016-20e).
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2020e-24f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together the research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
This report provides top-level market analysis, information and insights into the Indian cards and payments industry, including -
-- Current and forecast values for each market in the Indian cards and
payments industry, including debit, credit, and charge cards.
-- Detailed insights into payment instruments including cash, cards, credit
transfers, cheques, and direct debits. It also, includes an overview of
the country's key alternative payment instruments.
-- E-commerce market analysis.
-- Analysis of various market drivers and regulations governing the Indian
cards and payments industry.
-- Detailed analysis of strategies adopted by banks and other institutions
to market debit, credit, and charge cards.
Scope
-- In a move to promote digital payments, the government abolished the
merchant service fee on payment transactions made using RuPay cards and
UPI effective from January 1, 2020. In addition, all businesses with
annual turnover of more than INR500m ($7.01m) must provide their
customers with the option to pay electronically via RuPay debit cards
and UPI QR codes. These moves are expected to boost payments via
domestic real-time payment system UPI at merchant locations, along with
RuPay debit cards.
-- There is also a growing preference for alternative payment solutions
such as Paytm, Google Pay, Visa Checkout, Amazon Pay, PayPal, and
Masterpass in India. Google Pay has been one of the beneficiaries of
growing digitalization, accounting for a 9.3% share of total e-commerce
payments - a significant jump from 3.5% in 2019. It is gradually
catching up with Amazon Pay, the leading alternative payment solution,
which holds a 11.3% share.
-- Buy now pay later is gradually gaining traction in the Indian payment
market, with an increasing number of merchants, banks, and payment
providers now offering this service. In January 2017, Flipkart
introduced an option that allows customers to purchase goods up to a
total value of INR10,000 ($140.27), which can be repaid at the end of
the credit cycle without any charge. International companies are also
planning to enter the market. In August 2020, US-based buy now pay later
provider Sezzle announced it will launch in India by the end of 2020.
The company had already launched a pilot and is in the process of
integrating with the UPI platform.
Key Topics Covered:
-- Payment Instruments
-- Card-based Payments
-- Merchant Acquiring
-- E-commerce Payments
-- Buy Now Pay Later
-- Mobile Proximity Payments
-- P2P Payments
-- Bill Payments
-- Alternative Payments
-- Payment Innovations
-- Payments Infrastructure & Regulation
-- Appendix
Companies Mentioned
-- State Bank of India
-- HDFC Bank
-- ICICI Bank
-- Axis Bank
-- Bank of Baroda
-- RuPay
-- American Express
-- Visa
-- Mastercard
-- Diners Club
-- Fiserv
-- Paytm
-- Jio Money
-- PhonePe
For more information about this report visit https://www.researchandmarkets.com/r/ordrnd
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
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Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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