India Real Time Payment Market is projected
to witness robust growth by 2024, owing to increasing online payments and
digital transactions in the country. Growing consumer preference of digital
payments that are fast, secure and reliable as compared to other modes of
payment are expected to drive the growth of the Real Time Payment market in
India during the forecast period. Moreover, if value and volume in terms of
transactions is calculated, the market will be huge. Instead of lining up at a
bank or nearby payment offices, customers can make payments from anyplace
sitting anywhere in the world, 24/7/365, which is likely to have a positive
effect on the growth of market in coming years. Additionally, shift towards
instant fund transfer and ease of reconciliation offered by banks for digital
transaction is further anticipated to propel the growth of Real Time Payments
in India. This is further backed by increasing number of smartphones and demand
for such platform from merchants is anticipated to drive the growth of the
market in the next five years. Moreover, with advancing mode of digital payment
like Near-Field Communication (NFC Based Payments) & Wearables device-based
payments coupled with support from FinTech companies will ensure robust growth
of the market during the forecast period.
Years
considered for this report:
Historical
Year : 2014-2017
Base Year :
2018
Estimated :
2019
Forecast :
2020-2024
Objective of the Study:
- To analyse and forecast the market size of
Real Time Payment, in terms of value and volume (Transaction).
- To classify and forecast India Real Time
Payment based on type, certification, end-user and regional distribution.
- To identify drivers and challenges for India
Real Time Payment.
- To examine competitive developments such as
expansions, new product/service launches, mergers & acquisitions,
etc., in India Real Time Payment.
- To identify and analyse the profile of leading
players involved in the of India Real Time Payment system.
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Some of the leading players in the India
Real Time Payment Market are ACI Worldwide, Capgemini India, NEC
Technologies India Private Limited, The Clearing House Payments Company, Montran
corporation (India) Ltd, among others.
TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of solution providers across India. Subsequently, TechSci
Research conducted primary research surveys with the identified companies.
While interviewing, the respondents were also enquired about their competitors.
Through this technique, TechSci Research could include the Solution Providers
which could not be identified due to the limitations of secondary research.
TechSci Research analysed the service offerings, distribution channels and
presence of all major collaboration Solution Providers across the country.
TechSci Research calculated the market size of India Real
Time Payment using a bottom-up approach, where data for various application
across various technology were recorded and forecast for the future years.
TechSci Research sourced these values from the industry experts and company
representatives and externally validated through analysing historical data of
these product types and applications for getting an appropriate, overall market
size. Various secondary sources such as company website, news articles, press
releases, company annual reports, investor presentations and financial reports
were also used by TechSci Research.
Key Target
Audience:
- Payment
security solution and service providers
- FinTech
Companies
- Financial
Service Companies
- End Users
- Research
organizations and consulting companies.
- Industry
associations
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders, end users, etc.,
besides allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, India Real Time Payment Market has been
segmented into following categories, in addition to the industry trends which
have also been detailed below:
- Market, By Type:
- 24*7*365
- Bank Operating hours
- Market, By Certification:
- ISO Certified
- Non-ISO Certified
- Market, By End-User:
- Market, by Region:
- North
Region
- South
Region
- West
Region
- East
Region
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in Real Time Payment Market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according the company’s specific needs. The following
customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
In case you don’t find what you are
looking for, please get in touch with our custom research team at [email protected]