- India represents one of the largest market opportunities for digital payments.
- Total payments via digital payment instruments will be in the range of US$ 500 billion by 2020.
- The value of transactions for mobile banking grew 30%.
- Total usage of digital solutions shot up by more than 100%.
- The value of card transactions on PoS machines shot up more than 41%.
- A daily transaction through e-wallet services has shot up from 17 lakh to 63 lakh.
- Cash transactions account for 78% of all transactions in the country
- Transactions through RuPay Cards were up 316% at 16 lakh daily.
- Mobile Commerce is estimated to reach $278.9 billion by 2018.
- The average mobile wallet user loads 1.9 cards into their phone’s wallet.
- Total Transaction Value in the “Digital Payments” segment amounts to US$43,831m in 2017.
- Total Transaction Value is expected to show an annual growth rate (CAGR 2017-2021) of 19.5 % resulting in the total amount of US$89,260m in 2021.
- The market’s largest segment is the segment “Digital Commerce” with a total transaction value of US$43,474m in 2017.
- Digital payment users will comprise 50% of all internet users by 2020.
- Mobile QR code and barcode redemption market is estimated to cross $50 billion globally by 2017.
DSIM Team
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