Dublin, Nov. 02, 2020 (GLOBE NEWSWIRE) -- The "India Cards and Payments - Opportunities and Risks to 2024" report has been added to ResearchAndMarkets.com's offering.
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.
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:
Buy Now Pay Later
Mobile Proximity Payments
Payments Infrastructure & Regulation
State Bank of India
Bank of Baroda
For more information about this report visit https://www.researchandmarkets.com/r/7sry3p
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