India Digital Payment Market By Type (Solutions (Payment Processing, Payment Gateway, Payment Wallet, POS Solution, Payment Security and Fraud Management), Services (Professional Services, Managed Services)), By Deployment Mode (On-Premises, Cloud), By Organization Size (SMEs, Large Enterprises), By Vertical (Banking, Financial Services, and Insurance (BFSI), Telecom & Information Technology (IT), Retail & E-Commerce, Healthcare, Media & Entertainment, Others), By Region, Forecast & Opportunities, FY2026
Published Date: February - 2025 | Publisher: MIR | No of Pages: 320 | Industry: BFSI | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndia Digital Payment Market By Type (Solutions (Payment Processing, Payment Gateway, Payment Wallet, POS Solution, Payment Security and Fraud Management), Services (Professional Services, Managed Services)), By Deployment Mode (On-Premises, Cloud), By Organization Size (SMEs, Large Enterprises), By Vertical (Banking, Financial Services, and Insurance (BFSI), Telecom & Information Technology (IT), Retail & E-Commerce, Healthcare, Media & Entertainment, Others), By Region, Forecast & Opportunities, FY2026
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The India Payments Market size is estimated at USD 421.50 billion in 2025, and is expected to reach USD 960.22 billion by 2030, at a CAGR of 17.9% during the forecast period (2025-2030).
Furthermore, digital payments are increasingly becoming a way of making transactions in India with presence of over 45 mobile wallet providers and around 50 UPI-based wallet providers in the country. Also,
India digital payment market is segmented based on
Major players operating in India digital payment market include PayPal Payments Private Limited, Paytm Payments Bank Limited, Google Pay India, Bharat Interface For Money (BHIM), PayU Payments Private Limited, Amazon Pay, PhonePe, Razorpay Software Pvt Ltd., India Transact Services Ltd., PayKun Payment Solutions Private Limited and PayBingo.in., among others. The market players are undertaking growth strategies such as partnerships and acquisitions and are investing on latest technologies to increase their revenue share in the country.
Years considered for this report
Historical YearsFY2016-FY2019
Base YearFY2020
Estimated YearFY2021
Forecast PeriodFY2022–FY2026
Objective of the Study
- To analyze and estimate the market size of India digital payment market from FY2016 to FY2019.
- To estimate and forecast the market size of India digital payment market from FY2020 to FY2026 and growth rate until FY2026.
- To classify and forecast India digital payment market based on type, deployment mode, organization size, vertical, company and regional distribution.
- To identify dominant region or segment in the India digital payment market.
- To identify drivers and challenges for India digital payment market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India digital payment market.
- To identify and analyze the profile of leading players operating in India digital payment market.
- To identify key sustainable strategies adopted by market players in India digital payment market.
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MIR performed both primary as well as exhaustive secondary research for this study. Initially, MIR sourced a list of digital payment providers across India. Subsequently, MIR conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, MIR could include the service providers who could not be identified due to the limitations of secondary research. MIR analyzed the companies, vendors and presence of all major players across India.
MIR calculated the market size of
Key Target Audience
- Digital payment service providers, vendors, banks and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to digital payment
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as digital payment service providers, banks, vendors, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope
In this report, India digital payment market has been segmented into following categories, in addition to the industry trends which have also been detailed below
India Digital Payment Market, By Type
Solutions
Payment Processing
Payment Gateway
Payment Wallet
POS Solution
Payment Security and Fraud Management
Services
Professional Services
Managed Services
India Digital Payment Market, By Deployment Mode
On-Premises
Cloud
India Digital Payment Market, By Organization Size
SMEs
Large Enterprises
India Digital Payment Market, By Vertical
Banking, Financial Services and Insurance (BFSI)
Telecom & Information Technology (IT)
Retail & E-Commerce
Healthcare
Media & Entertainment
Others
India Digital Payment Market, By Region
North
South
East
West
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