India Real Time Payment Market By Indian Industry Size, Share, Trends, Opportunity and Forecast 2024 - TechSci Research

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.

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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:
    • (Banks & Government)
  • 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.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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