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India Payment Gateways Market Reach US$ 2,680 Million by 2027 | Growth Rate (CAGR of 12.92%)

India Payment Gateways Market

The India payment gateways market size reached US$ 1,266 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 2,680 Million by 2027

SHERIDAN, WYOMING, UNITED STATES, October 8, 2022 / -- According to the latest report by IMARC Group "India Payment Gateways Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The India payment gateways market size reached US$ 1,266 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 2,680 Million by 2027, exhibiting a growth rate (CAGR) of 12.92% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

A payment gateway stands for a service provider that acts as an interface between payment portals like e-commerce websites and banks by facilitating transactions of payments. This portal protects sensitive data, including Card Certification Value (CVV) and credit card or bank account details, from fraudulent entities while completing the order submission with HTTPS protocol that secures personal information. Payment gateways offer several benefits, such as a user-friendly interface, time efficiency and expense and loss management.

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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.

The India payment gateways market is primarily propelled by the thriving e-commerce sector and the constant evolution of payment methods, like cash pooling, token systems and various cashless transactions. Moreover, the rising adoption of smartphones and tablets has resulted in the shift from brick-and-mortar distribution channels towards online shopping. Additionally, the high internet connectivity and the growing use of mobile wallets supported by numerous advancements in mobile payment technologies are also augmenting the market growth in the country. Furthermore, various banks are collaborating with retail vendors to provide cashback schemes or discounts to expand their customer base. In the coming years, the elevating levels of urbanization along with the rising integration of numerous advanced technologies, such as AI, IoT, cloud computing, etc., are further expected to drive the India market for payment gateways in the coming years.

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.

Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

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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 (2022-2027) 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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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Elena Anderson
IMARC Services Private Limited
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