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Are Payment Platforms Poised for Growth in India?

India is racing ahead with its mobile phone subscriptions. It is the second largest smartphone market in the world. Given the rapid growth in mobile phone penetration, it is a logical step forward to ensure payments are done via connected devices. There is a surge in payment platforms in the country. Is this growth sustainable? Learn more in this visual presentation.

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Are Payment Platforms Poised for Growth in India?

  1. 1. Are Payment Platforms Poised for Growth in India?
  2. 2. Payment platforms Traditional cash based transactions have long been replaced by debit and credit card payments in the western world. In India, there are over 600 million debit cards and ~23 million credit cards in use. But these are now being disrupted with a new wave of payment alternatives. These include: a. e-commerce portal enabled native platforms b. Bank enabled platforms c. Mobile wallets d. Payment banks
  3. 3. Factors leading to a surge in Payment Platforms
  4. 4. Increase in smartphone penetration
  5. 5. Increase in Mobile Internet Connectivity – 370 Million Mobile Internet Users as of June, 2016
  6. 6. Roll-out of 4G LTE across key regions in the country…
  7. 7. Rise in disposable income
  8. 8. Policy impetus to improve non-cash transactions
  9. 9. Payment platforms offer inherent advantages including:
  10. 10. Anytime, on-the-go transactions
  11. 11. Pairing with revolutionary technology such as Near Field Communication (NFC) led payment transfers…
  12. 12. From the merchant’s point of view – Lower revenue leakage owing to lower drop-off..
  13. 13. Complements the hyper-local, context-aware marketing environment
  14. 14. Works as an alternative to the rather cumbersome mobile banking options available currently.
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  16. 16. Thank You Phone: 1-800-200-9977 Email: FLP@ICFAIUNIVERSITY.IN Website: www.flexible.icfaiuniversity.in