Mobile payment, also known as m-payment, includes the use of e-payment methods that are processed through smart devices to authorize, initiate, and confirm the transaction of money. It is facilitated via the availability of point-of-sale (POS) terminals and nearfield communications and mobile applications that are linked to the financial credentials of individuals. Since POS terminals do not save user data on the merchant’s POS terminal, mobile payments are considered to be a safer and reliable option when compared with the conventional methods. Moreover, mobile payments are convenient and automated to enable hassle-free dealing of payment methods, including cash and checks. They are extensively utilized in several industries, including the food service, retail, e-commerce and entertainment sectors.

Get a Free Sample Copy of this Report: www.imarcgroup.com/india-mobile-payment-market/requestsample

Market Trends:

The market in India is primarily driven by significant growth in the e-commerce sector. Coupled with the widespread adoption of smartphones and continual improvements in the network infrastructure, this has contributed to the growing requirement for mobile-based payments among individuals. Moreover, the increasing awareness regarding the improved safety of these transactions is also acting as a major-growth inducing factor. Mobile payment solutions are also increasingly being integrated with multi-factor authentication in an attempt to improve the safety and security of the overall transaction process. Furthermore, numerous mobile payment services are also introducing loyalty and incentive programs to offer additional benefits to their consumers, thereby creating a positive outlook for the market. Some of the other factors contributing to the market growth include the introduction of smart payment programs across numerous sectors, the widespread preference for contactless payment methods among the masses due to the rapid outbreak of COVID-19 and the numerous initiatives undertaken by the Government of India in an attempt to promote digital payments.

Explore Full Report with Table of Contents: www.imarcgroup.com/india-mobile-payment-market

India Mobile Payment Market Segmentation:

Our report has categorized the market based on region, mode of transaction and application.

Market Breakup by Mode of Transaction:

WAP

NFC

SMS

USSD

Others

Market Breakup by Application:

Entertainment

Energy and Utilities

Healthcare

Retail

Hospitality and Transportation

Others

Market Breakup by Region:

North India

West and Central India

South India

East India

Key highlights of the report:

Market Performance

Market Outlook

Porter’s Five Forces Analysis

Market Drivers and Success Factors

SWOT Analysis

Value Chain

Comprehensive Mapping of the Competitive Landscape